Close
Close

Utah enacts changes to state tax incentive programs, including new credits

During March 2017, Utah enacted several laws amending the state tax incentive programs that are intended to encourage rural job creation, expansion of corporate charitable contributions and economic development of particular renewable energy industries. The legislation specifically targets job creation by enacting income tax credits for investment in eligible small businesses in rural areas. Also, the legislation includes income tax credits to encourage contributions to nonprofit corporations for projects designed to promote community and economic development in enterprise zones. Finally, the legislation provides incentives for the development of hydrogen fuel production, including a new severance tax credit.