ARIZONA AVAILABLE INCENTIVES
State Credit Name: Research and Development Income Tax Credit
Expiration Date: Permanent
Who Can Apply? Corporations and Flow-Through Entities
Credit Carry Forward: 15 years, but with restrictions based on the tax year the credit was earned.
About the Credit: The 2011 through 2030 R&D tax credit is equal to 24% of the first $2.5 million in qualifying expenses plus 15% of the qualifying expenses in excess of $2.5 million. For 2031 and thereafter, the tax credit rates will be 20% of the first $2.5 million in qualifying expenses plus 11% of the qualifying expenses in excess of $2.5 million.
Notes: The credit is partially refundable beginning in tax year 2011. The taxpayer may elect to receive 75% of the excess credit refunded and waive the remaining 25% instead of carrying excess credit forward. To be eligible for the refund, the taxpayer must have less than 150 employees, receive a Certificate of Qualification from the Arizona Commerce Authority and have a current year Arizona R&D tax credit that exceeds its current year’s tax liability.
Click here to find out if you are eligible for the federal research credit.
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Travel Bug2022-09-03I approached 3 different R&D tax consulting firms for quotes and not only was Swanson Reed the most responsive, they were the best priced and performed the most services in the quickest amount of time. I was skeptical at first but just got my final pack and am stoked it was all true. Would give 6 stars if could.
Daniel McGregor2022-08-11I have been using Swanson Reed for my clients for more than a decade. Having a specialist firm that can provide practical and commercial advice that produces real outcomes is very important and we have received great feedback from our clients. Highly recommended.
John2022-06-15Damian and the rest of the team at Swanson Reed have been supporting us for several years. We always appreciate their insights, expertise, and efforts.
Rueben Rajasingam2022-06-06Experienced responsive Team. They have been a great help to me and my company navigate the R&D tax claim process and have provided invaluable advice.
Enrique Esquivel2022-06-06Damian and the team at Swanson Reed have been extremely helpfully and professional during all of our consultations. Highly recommended.
Jess at Y&C2022-06-03
Anatole Kononewsky2022-06-02The Swanson Reed team have provided our company with exceptional professional advice and assistance for all of our R&D claims for many years - have always achieved great results with excellent value for their services.
Payam Toloo2022-06-02Damian Smyth and his team are very helpful, supportive and experts in their field of R&D Tax claims. I'm always happy with the work they do and been a customer of their for over 5 years.
Melissa Doddy2022-05-31The Team at Swanson Reed are very experienced R&D Tax Advisors and gave us ongoing support with all of our R&D Claims, the consultants ensured we were always working with current legislative guidelines, gave us assistance with compiling technical and government documentation and went out their way to ensure they were with us for the entire process from beginning to end. Highly recommended to anyone who needs assistance with working through what can at times be a daunting process.
Gary Watson2022-05-31We can highly recommend Swanson and Reed as an R & D accountant. We have worked with them for several years now as they make our R & D claim so easy and communicate quickly with both us and our accountant.
