Businesses and entities in Georgia need to apply for GA Tax ID to be able to operate as a partnership or corporation. The Tax ID is also a requirement if the business has plans to hire employees or to open a checking account under the business name. Applying for a Tax ID is a relatively easy and fast process through the internet.
Wall Street has recently provided the coastal cities of Georgia with an economic incentive to consider climate change seriously. In a November report, Moody’s Investor Service states that if Georgia fails to address climate change, credit rating of coastal cities like Savannah can be downgraded. The interplay between the issuer’s exposure to climate shocks and resilience towards vulnerability has become an important part of a credit analysis.
According to Savannah officials, the city is trying to mitigate the risks even if projects are not labeled as climate change response. They have a list of finished and ongoing projects that can generate climate change awareness and affect job creation. There are also upgrades to infrastructure like roads, bridges and sewer systems including business development prospects and improvement of quality of life throughout coastal US.
According to the report from Moody, the Southeast is predicted to be among the US regions that will be most affected by higher temperatures that can reduce productivity and increase heat-related deaths. It is also forecasted that sea levels will rise from 3 to 8 feet by 2100. This will result to an increase in water damages to property and infrastructure because of storm surges and nuisance flooding.
Georgia is listed as the state that has the highest percentage among coastal structures in the flood plain nationwide. Climate change is very likely to increase risks in Savannah but those risks will always be present due to geography.
However, climate change should not deter businesses from investing in Georgia because there are long term efforts to improve drainage and mitigate the risks of climate change. However, businesses and entities are required to apply for GA Tax ID so that they can perform business-related activities without hassle.