S Corporation Franchise Or Income Tax Return And Instructions For Form Tc20s Page 31
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32(10) Recycling Market Development Zone
For detailed information regarding this credit, in-
Tax Credit (UCA §59-10-108.7)
cluding definition of terms and procedures for claim-
ing the credit, refer to UCA §59-10-131.
Attach the completed form TC-40R, “Recycling
Market Development Zone Tax Credit” with the
(13) Credit for Machinery and Equipment
Department of Community and Economic Develop-
Used to Conduct Research
ment certification, verifying the credit has been
(UCA §59-10-132)
approved.
The credit is for machinery, equipment, or both
A credit is available to businesses operating in a
used primarily for conducting qualified research
recycling market development zone as defined in
or basic research in Utah for a time period of not
UCA §9-2-1602.
less than 12 consecutive months. A qualifying
taxpayer may claim the credit in the taxable
To obtain form TC-40R, certification, or for addi-
year immediately following the taxable year for
tional information, contact:
which the taxpayer qualifies for the credit.
Dept. of Community and Economic Development
324 S State Street, Suite 500
A qualifying taxpayer may take the following non-
Salt Lake City, UT 84111
refundable credits:
Telephone: (801) 538-8804
1. A credit of 6 percent of the purchase price of
(12) Credit for Increasing Research
certain machinery and equipment primarily used
Activities (UCA §59-10-131)
to conduct qualified research in Utah; and
The credit is for expenses incurred for increasing
2. A credit of 6 percent of the purchase price of
qualified research activities in Utah. A qualifying
certain machinery and equipment donated to a
taxpayer may claim the credit in the taxable year
qualified organization and used primarily to
immediately following the taxable year for which the
conduct basic research in Utah.
taxpayer qualifies for the credit.
For detailed information regarding this credit,
A qualifying taxpayer may take the following nonre-
including definition of terms and procedures for
fundable research credits for activities in Utah:
claiming the credit, refer to UCA §59-10-132.
1. A research credit of 6% of the taxpayer’s quali-
fied research expenses for the current taxable
year that exceed the base amount; and
2. A credit for payments to qualified organizations
for basic research, as provided in IRC Section
41(e), of 6% for the current taxable year that
exceed the base amount.
Page 13
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