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.
R&D Tax Credit Training for UT CPAs
Upcoming Webinar
R&D Tax Credit Training for UT CFPs
Upcoming Webinar
R&D Tax Credit Training for UT SMBs
Upcoming Webinar
Contact Us
Contact your local Swanson Reed office to speak with a representative in your area today.
3839 McKinney Avenue
Suite 155-2013
Dallas, TX 75204
Suite 155-2013
Dallas, TX 75204
Recent Posts
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.
