560-7-7-.05 Definition of the Term "Federal Jobs Tax Credit".

For purposes of the adjustment provided by O.C.G.A. §§ 48-7-21(b)(9) and 48-7-27(a)(3)(A), the term "federal jobs tax credit" shall include all those credits that, by virtue of Section 280C(a) of the Internal Revenue Code of 1986, require the disallowance for federal income tax purposes of a deduction for wages and salaries. Authority: O.C.G.A. Secs. 48-2-12, 48-7-21, 48-7-27. History. Original Rule entitled "Year in Which Income Taxable" adopted. F. and eff. June 30, 1965. Repealed: F. Feb. 16, 1972; eff. Mar. 7, 1972. Amended: New Rule entitled "Definition of the Term Federal Jobs Tax Credit" adopted. F. May 14, 2001; eff. June 3, 2001.