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Utah and the Research and Development (R&D) Tax Credit
State Credit Name: Tax Credit for Research Activities
Expiration Date: Permanent
Who Can Apply? Corporations and flow-through entities
Credit Carry Forward: Unused credits can be carried forward 14 years, except credits calculated using 7.5% of a taxpayer’s QRE’s cannot be carried forward.
About the Credit: The definition of QRE’s in for the Utah state research credit is the same as the federal definition, except that the QRE’s must be incurred in Utah. The Utah credit is the sum of:
- 5% of a taxpayer’s qualified spending that exceed the base amount;
- 5% of payments made to qualified organizations for basic research in Utah that exceed the base amount; and
- 7.5% of QRE’s for the taxable year.
Notes: Gross receipts are only those attributable to sources within Utah.
Are you eligible?
Why choose us?
Pass an Audit?
Swanson Reed is one of the only companies in the United States to exclusively focus on R&D tax credit preparation. Swanson Reed’s office location at 222 South Main Street, Salt Lake City, Utah provides R&D tax credit consulting and advisory services to Salt Lake City, West Valley City, Provo, West Jordan, Orem, Sandy, Ogden, St. George, Layton and Taylorsville.
If you have any questions or need further assistance, please call or email our local Utah Partner on (385) 715-1116.
Feel free to book a quick teleconference with one of our Utah R&D tax credit specialists at a time that is convenient for you. Click here for more information about R&D tax credit management and implementation.
Contact Us
Utah Office
Swanson Reed | Specialist R&D Tax Advisors
