Draffin & Tucker’s Jeremy Wilson authored the article “Georgia Senate Bill 258: The General Assembly’s Attempt to Sustain Georgia’s Tax-Exempt, Rural Hospitals with a State Income Tax Credit,” that appeared in the Georgia Society of Certified Public Accountants September/October 2016 issue of Current Accounts.
In the article, Jeremy talks about the concerns Georgia’s rural hospitals face with the Affordable Care Act and the state’s refusal to expand the Medicaid program. These two factors lead some experts to believe that Georgia’s stand-alone, rural hospitals will go extinct.
Enter Senate Bill 258, enacted in April of this year, which seeks to drive private contributions to rural hospitals through a tax credit program. While the program is not financially beneficial for all taxpayers, it certainly warrants discussion with some, like those with an AMT liability, among others.
“For many years, Georgia’s rural hospitals have been an integral lifeline of the communities served, but now these hospitals need a financial lifeline. If they can maximize this opportunity, the rural hospital community stands to generate total contributions in excess of $257 million over a three-year term,” Jeremy says in the article.
For more information on Georgia Senate Bill 258 and its potential impact on the state’s rural hospitals, please contact Jeremy Wilson at jwilson@draffin-tucker.com or (404) 220-8494.
To read the full article, click here.