Our Community

Taxes

Ad valorem (Property Tax)
The ad valorem tax is based on the fair market value of property (real property and personal property & equipment), which is established on January 1st of each year. The assessed valuation in Georgia is 40% of the fair market value. The amount of tax is determined by the tax rate (millage rate) levied by various entities (one mill is equal to $1.00 for each $1,000 of assessed value, or .001).

2009 Tax Rates
Unincorporated Coweta County = 28.74 mills
City of Grantville = 30.99 mills
City of Newnan = 30.82 mills
City of Senoia = 35.58 mills

2009 Effective Tax Rates
Unincorporated Coweta County = $11.50
City of Grantville = $12.40
City of Newnan = $12.33
City of Senoia = $14.23

Freeport - Coweta County voters have adopted their own version of the freeport exemption (not the state version) which includes county and any municipal corporation within the county and covers 100% of inventory destined to be shipped outside Georgia for the following classes: raw materials and goods in process of manufacture; finished goods produced in Georgia within the last 12 months; and, finished goods stored in Georgia within the last 12 months and destined for shipment out-of-state. The deadline for filing an application for freeport exemption with the Board of Tax Assessors is April 1 to receive the full exemption.

Additional information is available HERE or by contacting the Coweta County Tax Commissioner's office (770-254-2670 or www.cowetataxcom.com), or the Coweta County Board of Tax Assessors office (770-254-2680 or www.cowetatax.com).

Sales & Use Tax
Sales & Use Tax is a tax upon the use, consumption, distribution, or

levied or imposed upon retail sales, rentals, leases, uses, or consumption of tangible personal property, and certain services that are specifically taxed under the Georgia Retailer's and Consumer's Sales and Use Tax Act. State Sales Tax = 4%
Local Sales Tax = 1%
Special Purpose Local Option Sales Tax = 1%
Special Purpose Local Option Sales Tax for Education = 1%

Georgia provides a number of sales and use tax exemptions, including Manufacturing Machinery, Pollution Machinery, Production Equipment, Electricity Exclusion, Material Handling Machinery for Distribution Facilities.

State Corporate Income Tax
Georgia was the first state in the Southeast to adopt the Single Factor Apportionment Formula for state corporate income taxes. Since 2008, state corporate income taxes have been based on the company's gross receipts inside the state of Georgia. This new single sales factor apportionment formula significantly reduces the effective rate of Georgia income taxation of Georgia-based manufacturing, distribution and service companies with substantial sales to customers outside Georgia. The maximum tax rate is 6%.

Corporate Net Worth Tax
Corporations that own property or do business in Georgia are subject to Net Worth Tax. The amount of the tax varies according to the corporation's net worth. The minimum tax is $10 for a net worth less than $10,001. The maximum is $5,000 for a net worth in excess of $22 million.

Unemployment Taxes
Georgia's unemployment insurance law is administered by the Georgia Department of Labor. For new employers, the tax rate is 2.7% and can be adjusted after an unemployment history for the company is established. For more information, contact the Georgia Department of Labor's Newnan Career Center at 770-254-7220.

Business Licenses
Business Licenses are issued for Home Occupation, Commercial, Professional and Regulatory categories.

Alcohol Licenses are issued for Retail Beer, Retail Wine, Retail Beer and Wine, Consumption Beer, Consumption Wine, Consumption Beer and Wine and Wholesale Beer and Wine.

General Information

• When applying for a business license, you will need to provide the name, address and phone number of your business.
• You will need to provide a copy of your paid property tax statement from the previous year.  
• This must be provided on a yearly basis as long as your business is operating.
• If a state license is required for your business, you must provide a copy with your application.
• Certain other information may be required depending on the type of business you are operating.
• You will need to fill out a short questionnaire at the time you make your application.
• Processing time varies, but usually takes less than two weeks.
• All licenses expire December 31st. You must renew your license between January 1 and March 31 in order to avoid penalties and interest.
• If you close your business, please notify the Business Tax Department in writing at 22 East Broad Street, Newnan, GA 30263.
  
  For more information on business license requirements in Coweta County, call 770-254-2626 or visit the Business License website.