Form It-Oic - Optional Investment Tax Credit Calculation
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CLEAR
State of Georgia
IT-OIC (02/04/16)
Optional Investment Tax Credit Calculation
Company Name: _______________________________________
Tax Year End: _____________
FEI Number: _____________________________
Georgia County / Tier where investment located: _________________________
Initial Investment / Expansion Date:
_________________________
Date first placed into service:
_________________________
Computation of Aggregate Credit Amount:
1. Cost of all Investment Property Purchased
2. Multiply by tier percentage (6%, 8%, or 10%)
3. Aggregate Credit Amount Allowed (Line 1 times line 2)
Computation of Base Year Average:
Tax Liability in base year
Note: The base year is the year the property is first placed in service.
Tax Liability in preceding year
Tax Liability in 2nd preceding year
Sum of three years liability
Base Year Average (Sum of three years divided by 3)
Annual Amount of Credit Calculation:
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
**Allowed amount should be equal to the lesser of Option 1 or Option 2**
Option 1 Calculation
Current Year Tax Liability
Less Base Year Average
Adjusted Liability
Multiply by 90%
$
0.90
$
0.90
$
0.90
$
0.90
$
0.90
$
0.90
$
0.90
$
0.90
$
0.90
$
0.90
Current Year Optional Investment Tax Credit
OR
Option 2 Calculation
Aggregate Credit Amount
Less: Sum of All Credits previously used
Unused Aggregate Credit Amount
Credit Allowed:
Optional Investment Tax Credit Available
Amount of Credit Allowed in current year
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