3/8/10 - WALLACE is a proud 2010 sponsor of PADV.
WALLACE is proud to sponsor PADV, Partnership Against Domestic Violence. PADV just celebrated 35 years as the largest non-profit domestic violence organization in the state of Georgia.
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3/5/10 - WALLACE is proud to welcome Comcast as a new client.
Comcast is one of the largest cable providers in the nation. Comcast is a residential and commercial service provider for television, internet, and telephone.
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3/4/10 - WALLACE is proud to welcome AFC Enterprises, Inc. as a new client.
AFC Enterprises, Inc. develops, operates, and franchises quick-service restaurants the trade name Popeyes.
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3/3/10 - WALLACE is proud to welcome Mystic, Inc. aka Herman Kay as a new client.
Mystic, Inc. aka Herman Kay is a major clothing manufactuer of outerwear for men and women.
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2/19/10 - WALLACE is proud to welcome Conagra as a new client.
ConAgra Foods makes many leading brands, including: Healthy Choice, Chef Boyardee, Egg Beaters, Hebrew National, Hunt’s, Orville Redenbacher’s, PAM, and Banquet, among others.
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2/1/10 - WALLACE is proud to welcome Kinder Morgan Plantation Pipeline as a new client.
Kinder Morgan's Southeast Operations consists of the approximate 1,900-mile, 12-inch multi-product Cochin pipeline system.
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1/1/2010- Georgia Job Tax Credit 2010 Tier Rankings
The State of Georgia annually releases revised tier rankings for Georgia’s 159 counties based on the economic conditions within each county. The different tiers have unique eligibility requirements which can significantly impact the amount of Job Tax Credits businesses may be entitled to receive. It is important to know the tier of each county where your business is located. The amount of Job Tax Credit ranges from $750 to $5,750 per job each year for 5 years.
Listed below are several counties which were negatively impacted by the change in ranking:
From Tier 1 to Tier 2: Clarke, Colquitt, Lamar, Liberty, Peach
From Tier 2 to Tier 3: Muscogee, Webster
Counties Leaving the Bottom 40: Baker, Tattnall, Twiggs
For businesses operating in the above counties, the deadline for submitting a Notice of Intent in order to maintain your 2009 tier designation is February 15, 2010. These annual changes can have a significant impact on the incentives available to your business. Please be on the lookout for changes in January 2011, when WALLACE sends out our annual tier change letter and map.
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12/16/09 - WALLACE is proud to welcome GA Eye Institute as a new client.
Georgia Eye Institute is an ophthalmology practice that provides comprehensive eye care for the greater Savannah area.
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12/14/09 - WALLACE is proud to welcome Toccoa Clinic as a new client.
Toccoa Clinic has primary and specialty medical care facilites throughout Northeast Georgia.
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12/14/09 - WALLACE is proud to welcome RBM as a new client.
RBM of Atlanta has two dealership locations that sell new and used Mercedes-Benz.
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11/1/09 - WALLACE is pleased to announce a very sucessful Golf Tournament
Click on link to visit the Fall 2009 Golf Tournament photos. > Fall Golf Tournament 2009
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10/07/09 - State of Georgia – Tax Credits 2009 Legislative Update
In 2009 some significant changes took place to the tax credit landscape in the State of Georgia. There were some positive moves including the expansion of some tax credits and the creation of others. There were also some cuts that will have a significant impact on specific credits for tax years starting January 1st 2009.
Below is a summary of the changes made specifically by HB439 during the 2009 State of Georgia legislative session. I hope that this letter will help you understand how your business may be impacted by the changes to tax credit law in the State of Georgia.
If you have any questions about how these changes may impact your business, please call me, Peter Green, at: (866) 808-9729.
Retraining Tax Credit – This tax credit allows a company to offset up to 50% of its GA Income tax liability from the costs incurred by training Georgia employees.
• All employers that file a GA income tax return can qualify for the credit.
• Credit is now capped at $1,250 per person per year at a rate of $500 per person per training program.
• Microsoft Office training for end users will no longer qualify. It will however qualify for trainers or employees whose job is to support Microsoft Office.
• For years 2009 onwards, credits must be filed within one year of the original tax filing date versus the current three years.
Job Tax Credit – This tax credit allows a company to offset up 50% -100% of its GA income tax liability by increasing its net headcount in GA. Job tax credits range from $4,000 to $750 per job each year for 5 years and can be used along with the Retraining Tax Credit.
• Provides for the tax credit to be available to claim on the Year One tax return for jobs created in Year One (previously had to maintain jobs in Year Two and then claim the initial credit on Year Two tax return).
• The tax credit can be claimed within one year of the earlier of the date the original tax return was filed or the date such return was due.
• “Competitive Projects” (as certified by the Georgia Department of Economic Development) to be eligible to claim the withholding benefit with the credit in Tier 2, Tier 3, or Tier 4 in a manner similar to a business enterprise that is located in Tier 1.
• Provides for additional jobs created in the four years following an initial Year One (where the Year One jobs have been maintained) to be eligible for the credit without creating a new Year One.
• Any net employment increase that fall below the number required may forfeit the right to the tax credit. The taxpayer may be liable for all past taxes for that taxable year and all past payments under Code Section 48-7-103.
• NAICS reference from 2008 amendment (H.B. 1246) to properly reflect the 2007 NAICS Code for inclusion of Internet publishing and broadcasting as 519.
• Provides for the inclusion of the industry classification detailed as “services for the elderly and persons with disabilities” within the definition of business enterprise for O.C.G.A. 48-7-40.
For more information on these changes or questions as to how your company can maximize the tax credit opportunities in the State of Georgia, please feel free to contact me at: (866) 808-9729.
Sincerely,
Peter Green
President
WALLACE – The Training Tax Credit Company
770-772-0252x302
pgreen@wraywallace.com
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10/06/09 - PETER GREEN ATTENDS CONFERENCE TO DISCUSS INNOVATION IN ECONOMIC DEVELOPMENT
From a changing workforce to social media, leaders discuss the current paradigm shift in Georgia’s economic development
Alpharetta (October 6, 2009) – Last week Peter Green, President, WALLACE – The Training Tax Credit Company, joined more than 300 economic development leaders from around the state in Savannah for the Annual Conference of the Georgia Economic Developers Association (GEDA).
“Innovation means we must always evolve and adapt how we do business,” said Peter. “This was a valuable conference for exchanging ideas on local economic development efforts in our society of evolving technology.”
Over the course of the three-day conference, GEDA members explored the latest in technology trends, including a “social media 101” on how to use tools such as Facebook and Twitter to market communities. Also, the group heard from experts on topics such as “Backshoring and Backsourcing Jobs: Reversing the Trend of job losses in America.” In this session, attendees learned of ways to encourage the return of jobs that have in the past several years traditionally gone overseas.
The Georgia Economic Developers Association is a non-profit association of professionals and volunteers dedicated to enhancing Georgia’s economic vitality. GEDA provides networking and professional development resources to its members and advocates public policies to support quality economic development and job creation throughout the state. For more information, please visit geda.org.
08/26/09 - WALLACE is proud to welcome Gannett Company as a new client
Publisher with interests in newspapers including USA Today, television and the internet.
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07/27/09 - WALLACE is proud to welcome Heatcraft Worldwide Refrigeration as a new client
Heatcraft Refrigeration Products provides climate-control solutions for commercial and industrial applications in more than 70 countries.
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07/20/09 - WALLACE is proud to welcome AGL Resources as a new client
AGL is a natural gas distribution, marketing, and energy services company.
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07/15/09 - WALLACE is proud to welcome Colonial Pipeline as a new client
Colonial Pipeline Co. is an interstate common carrier of petroleum products.
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07/09/09 - WALLACE is proud to welcome Kellogg Company as a new client
With 2008 sales of nearly $13 billion, Kellogg Company is the world’s leading producer of cereal and a leading producer of convenience foods, including cookies, crackers, toaster pastries, cereal bars, frozen waffles, and meat alternatives. The company’s brands include Kellogg's®, Keebler®, Pop-Tarts®, Eggo®, Cheez-It®, Club®, Gardenburger®, Nutri-Grain®, Rice Krispies®, Special K®, All-Bran®, Mini-Wheats®, Morningstar Farms®, Famous Amos®, Ready Crust® and Kashi®.
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06/15/09 - WALLACE is proud to welcome Hospital Corporation of America (HCA) as a new client
Corporate operator of hospitals and health systems in several parts of the country.
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06/05/09 - WALLACE is proud to welcome Intercontinental Hotels as a new client
IHG is an international hotel company.
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05/22/09 - WALLACE is proud to welcome Hennessy Automobile Companies as a new client
Hennessy Automobiles Companies have the largest inventory ofnew and pre-owned vehicles in the southeast.
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05/22/09 - WALLACE is proud to welcome Chico's as a new client
Clothier for the sophisticated woman featuring a full line of private label apparel, accessories, and jewelry, with a focus on comfort.
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05/20/09 - WALLACE Sponsoring Coucil on State Taxation (COST) Income Tax Conference in Boston, MA
Visit our table at this years COST Income Tax Conference.
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05/13/09 - WALLACE will be at HR Star
Please stop by our booth at this years HR Star conference in Atlanta, GA.
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05/01/09 - WALLACE is proud to welcome Suzuki as a new client
Suzuki has facilities in Rome, GA manufacturing transportation equipment.
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04/28/09 - WALLACE is proud to welcome Comcast as a new client
Comcast is the largest provider of cable services in the US, with television, Internet, and digital phone services offered in 39 states.
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04/24/09 - HB439 Passes / Final Update
HB439 has passed and been sent to the Governor. The Bill includes changes to several tax credits - some of which are good, but the retraining tax credit took a few hits.
• All employers can again qualify for the credit – This is good news.
• The bad news is that the credit is capped at $1,250 per person per year. The $500 per person per program is still in place.
In the past an employee could participate in 5 programs for a possible $2,500 or 10 programs for a possible $5,000, these will all now be limited to $1,250. We estimate this will reduce the average tax credit by 15- 25%.
• Microsoft Office training for end users will no longer qualify. It will however qualify for trainers or employees whose job it is to support Microsoft Office.
• Credits must be filed within one year of the original tax filing date versus the current three years.
This will have no real effect on companies currently participating in the credit, but will affect companies starting to participate after this year as they will no longer have the ability to look back three years.
Read HB439 here
These changes come into effect for tax years starting Jan 1st 2009. Therefore tax credits prepared in this calendar year will not be affected.
Please also visit our new web site www.wraywallace.com for further updates on this and other tax credits in Georgia.
Thank you again to everyone who helped us in our negotiations with the State by calling or emailing your representatives and to all of those who provided assistance through their government affairs staff.
We at WALLACE look forward to continuing to serve Georgia’s employers on all available tax credits for many years to come.
All the best,
PETER GREEN
President
WALLACE – The Training Tax Credit Company
(Office) 770-772-0252 x 302
(Cell) 770-401-9234
(Fax) 770-772-0405
pgreen@wraywallace.com
www.wraywallace.com
An Inc 500 Company - 2003
US Chamber of Commerce - Georgia Small Business Blue Ribbon Award - 2008
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04/13/09 - WALLACE is proud to welcome Mar-Jac Poultry as a new client
Mar-Jac Poultry, Inc., established in 1954, supplys high quality poultry products worldwide, with an emphasis on the domestic foodservice industry.
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04/07/09 - WALLACE is proud to welcome Wise Business Forms as a new client
Wise is a leading trade manufacturer providing business forms, commercial printing, document services, and marketing services for resale only.
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04/03/09 - WALLACE is proud to welcome Harland Clarke as a new client
Harland Clarke is a leading provider of integrated payment solutions, marketing services, technology solutions, and best-in-class security to financial institutions, investment firms, B2B clients, small businesses, and individual consumers.
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03/31/09 - WALLACE is proud to welcome Cooper Lighting as a new client
Cooper Lighting, a subsidiary of Cooper Industries Ltd., designs lighting and fictures with commercial, residential and utility applications.
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03/19/09 - WALLACE is proud to welcome TM Polyfilm as a new client
TM Polyfilm in Valdosta, Georgia, is a small manufacturer of high quality polyethylene bags, tubing and sheeting.
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03/18/09 -WALLACE is proud to welcome Ole Mexican Foods as a new client
Ole Mexican Foods produces Tortillas, Tostadas, Cheeses, Chips, Sausages and Yogurt.
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03/17/09 - HB439 Moves to the Senate
Hello again friends,
I want to keep you updated as to the status of HB439.
The Bill (amended) was approved by the House of Representatives last week. The next step is the Senate will review and approve before it becomes law.
The good news is that with all of your help along with our lobbyists and the Government Affairs people from many of our clients, we got a few changes made to the bill before it passed the house.
• The term Business Enterprise has been changed back to “All Employers” as it was before.
• Microsoft office training was eliminated, but training to support for Microsoft office was added back in and will now qualify again.
• The per-person cap of $500 per year was raised to $1,250 per year.
But the negotiations continue.
Now in the Senate, the Bill still has two issues to be resolved:
• The Bill only allows a company to amend back one year to add in a tax credit. Currently it is three years.
• Although $1,250 is greatly increased from $500, it still reduces the tax credit for the average company by over 20% each year. (currently there is no cap)
Please contact your Senator or any of the Senators on the committee below and let them know that you do not need your Retraining Tax Credit cut by over 20%. Also please advise your Senator that we should try to support and encourage companies to invest in our people and not try to limit the training of our workforce at this time.
Thanks once again for you continued support. Please do not hesitate to contact me for further details.
All the best,
PETER GREEN
President
WALLACE – The Training Tax Credit Company
(Office) 770-772-0252 x 302
(Cell) 770-401-9234
(Fax) 770-772-0405
pgreen@wraywallace.com
www.wraywallace.com
An Inc 500 Company - 2003
US Chamber of Commerce - Georgia Small Business Blue Ribbon Award - 2008
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02/24/09 - COST Sale Tax Conference
WALLACE will be a sponsor at the COST Sales Tax Conference Vendor Fair
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02/10/09 - 02/11/09 - TRAINING 2009
Join us at TRAINING 2009 Exposition, booth 312.
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02/09/09 - HB439 has many changes for the retaining and Jobs tax credits.
Thank you all for your interest and efforts so far on notifying the State of Georgia on the effect of HB439 Section 3 on the retraining tax credit for your company.
Yesterday, Monday, we had our first subcommittee meeting and got to argue our point at the State Capitol. There was so much debate that a second subcommittee meeting has been scheduled for tomorrow, Wednesday.
The good news is that we are making progress in areas of what industries can be included and how much per person per year a company can get from the credit. But we still need to make a lot more progress.
If you have not already - Please contact your local representative or a committee member as soon as possible as many changes can be made at this stage if there is enough resistance to it.
Please go to http://www.congress.org to find your State House representative by zip code and have them call a committee member. Or send an email now to Lindsey.napier@house.ga.gov to tell her how this affects you. She will pass directly to the subcommittee.
I also welcome any of our clients who will be affected by this to join me at the State Capitol tomorrow at 2:30pm in room 133.
I will keep you posted of developments that affect you.
All the best,
PETER GREEN
President
WALLACE – The Training Tax Credit Company
(Office) 770-772-0252 x 302
(Cell) 770-401-9234
(Fax) 770-772-0405
pgreen@wraywallace.com
www.wraywallace.com
