Georgia tax credit program allows people, businesses to support rural hospitals
ALBANY, Ga. (WALB) - The Georgia Rural Hospital Tax Credit Program has been in place since 2017 and Draffin & Trucker has participated in the program every year.
“It’s a way for us to support directly to rural hospitals throughout Georgia. You know, these rural hospitals have really two things in common. One is that the payers that are paying them for their services barely pay cost for those rural hospitals,” Bert Bennett, CPA and partner at Draffin & Trucker, said. “And another thing that that’s common is that these rural hospitals are generally either the highest or the second highest employer in their community.”
This program is a way that the state of Georgia allows organizations to fund and give contributions directly to rural hospitals and support those local communities.
“And so we see a lot of value, both in the hospitals being in those communities and us being able to support them,” he said.
The state has increased the program’s fund from $60 million to $75 million. Bennett said he hopes the fund can increase even more.
“The state is looking at the value of this program into the future and so we hope it’s even more in the future,” he said.
Bennett is encouraging businesses to take advantage of this program because it’s good for their tax bill and for the hospitals.
“It’s really the state of Georgia has allowed an organization or an individual to give money directly to those hospitals in exchange for 100% tax credit off of their state liability,” he said. “And again, it helps. It helps you direct your money directly to The community that you live in or the community that you want to support, and so there’s really value.”
It doesn’t cost the individual anything because of getting the tax credit and it also allows them to support the organization and community they live in.
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