Georgia Rural Hospital Tax Credit Ending Soon

Time is running out for Georgia taxpayers to receive a 90 percent state tax credit for contributing to designated rural hospitals through the Georgia Rural Hospital Tax Credit Program.

Enrollment in the program for 2017 ends Nov. 1.

Both Stephens County Hospital and St. Mary’s Sacred Heart Hospital in Lavonia are hospitals on the list to receive contributions that are tax deductible.

St. Mary’s Healthcare spokesman Mark Ralston says the credit helps provide vital funding for Georgia’s rural hospitals.

Stephens County Hospital Administrator Lynn Anderson said the tax credit program is providing much-needed extra funding.

Anderson says they have already begun receiving donations this year and plan to use that money on a number of important projects.

Taxpayers who contribute to rural hospitals on the Georgia Rural Hospital Tax Credit Program list can claim the 90% credit on their state tax return for donations of up to $5,000 for individuals and up to $10,000 for married couples.

Additionally, “C” corporations can receive credit for up to 75 percent of their total Georgia income tax liability.

Contributions can also be claimed as charitable deductions on federal income tax returns.

The new law creates a pool of up to $60 million in tax credits in each of three years – 2017, 2018 and 2019 – with each designated hospital having access to a maximum of $4 million each year.

Now, there is a competitive element built into the law, which is important to keep in mind as the enrollment deadline nears.

Because the legislation sets a $60 million limit on annual credits, taxpayers who wait until the last minute may not be able to take advantage of the program so if you are planning to make a donation to either hospital, you need to do so now.

To find out how to make a donation, you can contact either Stephens County Hospital in Toccoa or St. Mary’s Sacred Heart in Lavonia.