Main Street Program
FOR GEORGIA ST. SMALL BUSINESS CREDIT INITIATIVE CLICK HERE . FOR ROYSTON OPPORTUNITY ZONE INFORMATION SEE BELOW !!!!!
The City of Royston Better Hometown Program is working for Historic Royston. The BHT works with current business owners and is working to attract new businesses to the City of Royston. This department works with the Department of Community Affairs, Georgia Power, Georgia EMC, Georgia Department of Economic Development, Small Business Administration, and Georgia Municipal Cities in an effort to benefit Royston. The BHT works closely with the Royston DDA in promotions and with the Design and Economic Development Committees. The BHT participates in various regional events to help enhance Royston.
The Royston Welcome Center and Better Hometown Office is located at 14 Hartwell Street in downtown Royston. You can reach this office by calling 706-245-7577.
Royston has much to offer, please come and visit our historic community!
Candy Ross, Better Hometown Director
Royston Opportunity Zone
Opportunity Zone Job Tax Credit Summary
The Opportunity Zone Job Tax Credit Program administered by the Department of Community Affairs offers the highest and most user-friendly job tax credit in the state! The program offers dramatic tax advantages.
- The designated area, or zone, is eligible for the maximum state job tax credit of $3500 per net new employee for five years starting the year of the hire with no restrictions on the type of jobs created.
- Any legal business that pays Georgia income tax is eligible.
- Only two or more net new jobs need to be created in any one year to be eligible (other programs require ten), and there is no upper limit on eligible jobs.
If the company’s state income tax liability is insufficient to absorb all of the credits the balance may be taken by retaining employee withholding taxes! This allows the credit to be “cashed out” quickly and easily. The amounts retained by the company from employee withholding are exempt by law from Georgia income tax and may not be subject to federal income tax, so the company gets the full value of the credited dollars.
**Note that there are flow-through opportunities to pass the credit to partners, shareholders, etc.
To read more on the state's Opportunity Zone Program, please visit the Georgia Department of Community Affairs' website by clicking here.
For more information on the Opportunity Zone, contact Better Hometown Manager at 706-245-7577
Opportunity Zone Example
To apply for Opportunity Zone Designation
Step 1:Check the City of Royston Opportunity Zone Map below to confirm that your parcel is located within an Opportunity Zone.
Step 2: Review the Opportunity Zone Requirements below to ensure you are qualified.
Step 3:Complete section one of the Opportunity Zone Certification form below and mail to:
Attn: Better Home Town Manager
City of Royston GA
634 Franklin Springs St.
Royston, GA 30662
This document will be signed and forwarded to the Georgia Department of Community Affairs.
Step 4: Prior to claiming your tax credit, complete and mail Georgia Tax Form IT-WH.
Step 5:To file for your tax credit, complete the Georgia Tax Form IT-CA.