State Program
Utah Research Activities Credit
A multi-component research credit that includes an incremental credit, a credit for qualifying basic research payments, and a credit based on total Utah qualified research expenses.
Program Overview
Utah provides several research-related tax credit components. One credit is based on the increase in Utah qualified research expenses, while another applies to qualifying basic research payments made to Utah universities and research institutions. A separate credit is calculated based on total Utah qualified research expenses, regardless of whether research spending increases from a prior period. The applicable incremental credit components may be carried forward for up to 14 years.
Eligibility
- Taxpayers with qualified research expenses associated with research conducted in Utah may qualify.
- Taxpayers making qualifying basic research payments to Utah universities or research institutions may qualify for the applicable credit.
- Research activities and expenses must meet applicable Utah requirements.
- Additional requirements may apply to each credit component.
Benefits
- Non-refundable credit against Utah income tax or franchise tax liability.
- Credit may be available based on increases in qualifying Utah research expenses.
- Credit may be available for qualifying basic research payments to Utah universities and research institutions.
- A separate credit may be available based on total Utah qualified research expenses.
- Applicable incremental credit components may be carried forward for up to 14 years.
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