Varies
Amount varies
Tax Credit
Reduces tax liability
Rolling
No fixed cutoff
Annual tax return
Claim with year-end filing
Moderate
File with tax return
Offers a 5% tax credit on qualified research expenditures conducted in Montana, with an additional 7.5% credit for qualifying research university partnerships. Encourages businesses to conduct R&D within the state.
Do I qualify?
Answer the questions below to get an instant self-assessment of your fit for this program. This is informational — final determinations are made by the administering agency.
1.Qualified R&D expenses must be incurred in Montana
2.Credit is 5% of QREs; 7.5% if research is conducted with a MT university
3.Follows federal IRC Section 41 definitions for qualified research
4.Credit can offset corporate income or net income tax
5.Unused credits can be carried forward up to 7 years
DEED · Minnesota
Credit equal to 25% of investment in certified Minnesota startup companies, available to both individual and corporate investors. Certified businesses must be in technology, new proprietary products/processes, or meet other qualifying criteria. Annual statewide credit cap of $17 million.
ADOR · Arizona
State income tax credit for businesses conducting qualifying R&D activities in Arizona. Credit equals 24% of the first $2.5 million in qualifying expenses and 15% above that threshold, mirroring the federal R&D credit structure.
DCEO · Illinois
Income tax credit of 25% for individual investors in certified Illinois innovative small businesses. The credit encourages investment in high-tech startups in life sciences, manufacturing, technology, and clean energy, with a $2 million maximum credit per taxpayer.