Utah R&D Tax Credit Summary
R&D Tax Credit Available
Tax Credit for Research Activities in Utah (Code 12)
DOES IT APPLY TO C-CORPS & PASS THROUGHS?
Two nonrefundable credits (Flat and Incremental) with similar definitions as federal for Qualified Research Expenses and Qualified Research Activities except only include Utah-based expenses.
5% on incremental expenses over base amount for Incremental Credit
7.5% of expenses for the Flat Credit