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Tax CreditUtahActiveVerified

Utah Economic Development Tax Increment Finance (EDTIF) Tax Credit

Governor's Office of Economic Opportunity (Go Utah)UT-EDTIFRefreshed 1 month ago
Do I qualify?
Who can apply

Businesses

Government-funded

Max funding

Varies

Amount varies

Type

Tax Credit

Reduces tax liability

Deadline

Rolling

No fixed cutoff

Timing

Annual tax return

Claim with year-end filing

Complexity

Moderate

File with tax return

About This Program

Provides post-performance corporate income tax credits to companies creating high-paying jobs in Utah's targeted industries, based on a percentage of state taxes paid by new employees.

Key Requirements & Eligibility

  • 1Must be creating new high-paying jobs in Utah in a targeted industry
  • 2Credit: up to 30% of state taxes paid by new employees over the project period
  • 3Jobs must pay at least 110% of county average annual wage
  • 4Post-performance: company pays taxes first, then receives credit after job creation is verified
  • 5Minimum project: typically 10–50 new jobs depending on location and industry

Do I qualify?

Answer the questions below for a rules-based self-assessment of your fit for this program. This is informational — final determinations are made by the administering agency.

0 of 5 answered

1.Must be creating new high-paying jobs in Utah in a targeted industry

2.Credit: up to 30% of state taxes paid by new employees over the project period

3.Jobs must pay at least 110% of county average annual wage

4.Post-performance: company pays taxes first, then receives credit after job creation is verified

5.Minimum project: typically 10–50 new jobs depending on location and industry

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Official Source