R&D Tax Credit Available:
Yes
Eligible Entities:
C-Corporation, S-Corporations, LLCs, Partnerships
Deadline for Tax Filing:
Due with Arizona Tax Return
Data Required to Compute Credit:
- Claim period Qualified R&D Expenses (QREs)
- Gross Receipts for Prior 4 Years
Credit Carryforward:
15 Years
R&D Credit Summary:
The R&D tax credit equals:
- 24% of the first $2.5 million in QREs, plus
- 15% of the QREs in excess of $2.5 million
Special Notes:
- Arizona offers a refundable and non-refundable research tax credit.
- To qualify to receive refundable portion of excess credit: Company must have less than 150 full-time employees and must apply to the ACA and receive a Certificate of Qualification