Businesses
Government-funded
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
Post-performance tax rebates for Utah businesses creating high-paying jobs, returning a percentage of new state taxes generated by the project over an agreement period of up to 20 years.
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.
1.Must create 50+ new high-paying Utah jobs (lower thresholds for rural projects)
2.Jobs must pay 110%+ of county average wage with benefits
3.Rebate: up to 30% of new state taxes generated for up to 20 years
4.All benefits are post-performance; company pays taxes first, then receives rebate
5.Must demonstrate Utah is in competition with other states for the project
OEDIT · Colorado
3% state income tax credit for businesses investing in business personal property in Colorado's 16 Enterprise Zones, which cover the state's most economically distressed rural and urban areas. Stacks with other CO Enterprise Zone credits for wage, research, and job training.
KCED · Kentucky
Provides income tax credits and wage assessments to encourage new and expanding businesses to locate in Kentucky. Credits are tied to job creation and capital investment commitments over a 15-year term.
Utah OEO · Utah
30% state income tax credit on new employee wages for businesses creating 5+ jobs in rural Utah Economic Opportunity Zones. Meaningful incentive to locate outside Salt Lake's urban corridor, with a 5-year credit period.