100% Georgia State Income Tax Credit Program
Simple and Quick Online Application at GeorgiaHeart.org
The State of Georgia uniquely empowers its citizens with the opportunity to pay their state income taxes – an expenditure that they are required to make anyway – through contributing to qualifying rural hospitals to improve healthcare access and services for thousands of Georgians.
Through the Georgia HEART Hospital Program, individuals and businesses can make 100% tax credit-eligible contributions, up to specified limits, to qualified rural hospitals of their choice and Help Enhance Access to Rural Treatment for thousands of Georgians, including those served by Effingham Hospital.
All Georgia citizens have the ability, through HEART, to decide how their tax dollars are spent. Georgia taxpayers receive a state income tax credit for 100% of the amount they contribute at these limits (effective January 1 through June 30)
- Individual Filer – up to $5,000
- Married Filing Separately – up to $5,000
- Married Filing Jointly – up to $10,000
- Individual Owner of S-Corp, LLC, or Partnership (Pass-Through Entity) NOT paying tax at entity level – up to $10,000
- C Corporation, Trust, or Pass-Through Entity electing to pay tax at entity level – up to 75% of annual Georgia tax liability
If you are a business owner, note that there is a new benefit for pass-through businesses, allowing a SALT (state & local income tax) limit workaround. Georgia HB 149 allows your pass-through business to elect to pay state income taxes at the entity level, resulting in significant federal tax savings.
This election also expands the positive impact your business can have through the HEART program, as your pass-through business can now contribute up to 75% of its annual Georgia income tax liability to an eligible rural hospital during the first six months of the year (whereas the limit was previously $10,000), resulting in a meaningful double-tax benefit of federal tax savings and a Georgia tax credit
In 2022, Georgia taxpayers consumed the $60 million in available rural hospital tax credits by July 1st. Georgia’s legislature increased the 2023 cap to $75 million; however, it is very likely that all credits will be consumed even earlier in 2023
Credits are awarded on a first-come, first-served basis. Watch this brief how to video, or simply follow these easy steps to sign up:
- Apply Now: Submit your 2023 HEART Tax Credit Form beginning on October 3rd at 9am. Georgia HEART will submit your application to the Georgia Department of Revenue in the order in which it is received.
- Make Payment: Pay via check or ACH to Georgia HEART by your payment deadline (within 180 days of approval notification).
- Take Credit: Georgia HEART will send you a tax receipt for claiming the credit on your 2023 Georgia income tax return
It is not often that we get to choose how are tax dollars are spent. Thank you for realizing the value of this tax planning strategy which also allows you to make a meaningful investment on our ability to offer quality care