Utah

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.

Click here to find out if you qualify for the federal research credit.

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