Southeast Georgia Health System’s Camden Campus qualifies for the Georgia Rural Hospital Tax Credit program, an exciting opportunity which allows Georgia residents to enjoy a 100% tax credit while also helping their local hospital. The Georgia General Assembly enacted this program in 2017 to encourage Georgia taxpayers to learn more about the challenges rural hospitals face and to provide an incentive for those taxpayers and C-Corporations who wish to redirect their Georgia income tax liability to help improve those hospitals’ financial condition and patient offerings.
“The Georgia Rural Hospital Tax Credit program is a wonderful opportunity for our communities to increase our hospital funding and enhance our ability to provide health care services to the individuals we serve,” says Michael D. Scherneck, president & CEO, Southeast Georgia Health System. “Taxpayers can benefit from receiving a dollar-for-dollar credit on their Georgia state income taxes, without any extra expense, while knowing that they’ve made a direct impact on their local health care.”
Scherneck added, “The Health System is eligible to receive funds through the program in 2019. Taxpayers should check their 2018 tax liability to confirm the amount they can redirect to the Health System, or talk with their tax advisor or accountant, before submitting an application.”
“We are very appreciative of every donation we receive, regardless of the amount. Each dollar will benefit patient care, such as a Wound Care Center, new technology and equipment, community health programs and screenings, staff training and physician recruitment.”
To participate in the program, taxpayers complete a HEART Tax Credit Form by visiting georgiaheart.org/donate and selecting the tax amount and eligible rural hospital they wish to redirect their taxes toward. Georgia HEART will begin submitting applications to the Georgia Department of Revenue (DOR) in the order which they are received, beginning January 2, 2019. Within 60 days of receiving DOR tax credit approval, the taxpayer sends a check made payable to the designated rural hospital to Georgia HEART at 3740 Davinci Court, Suite 375, Peachtree Corners, GA 30092.
Georgia taxpayers are eligible to receive a tax credit for contributing to the Southeast Georgia Health System Camden Campus, as follows:
• Individual Filer – 100% of the amount contributed, up to a limit of $5,000.
• Married Filing Jointly – 100% of the amount contributed, up to a limit of $10,000.
• Pass-Through Entity – 100% of the amount contributed, up to a limit of $10,000, so long as they would have paid Georgia income tax in that amount on their share of taxable income from the pass-through entity.
• C-Corporation or Trust – 100% of the amount contributed or 75% of their Georgia income tax liability, whichever is less.
“It’s very easy and only takes a few moments to apply for the tax credit, but there is an urgency to apply early as it is on a first come, first served basis,” says Scherneck. “Because of the popularity of the program, as well as limitations on the credits available, potential donors should submit their application requests well in advance of January 2.”
The Georgia Rural Hospital Tax Credit program makes $60 million of income tax credits available to Georgia taxpayers, with each qualified rural hospital having access to a maximum of $4 million of tax credits, until the total annual $60 million cap is met.
“Once the $60 million cap is met, it will be too late for taxpayers to delegate funds to the Health System’s Camden Campus,” explains Scherneck.