Tax Credits

 

 

 

Credit Pre-Certification

A select number of credits require the department to pre-certify applicants to determine eligibility or to administer an aggregate dollar amount that can be claimed. Below, you will find links to the procedures and applications for these select credits.

  • Health Insurance Premium Tax Credit - individual or small business applications for Certificate of Eligibility for the Health Insurance Premium Tax Credit
  • Renewable Energy Production Tax Credit – individual or corporate income tax credit for the production of electricity using solar light, solar heat, wind or certain types of biomass.
  • Renewable Energy for Self-Consumption – individual or corporate income tax credit for the investment in new renewable energy facilities that produce energy for self-consumption by the taxpayer’s manufacturing facility or international operations centers.
  • University Research & Development Tax Credit – individual or corporate income tax credit for taxpayers that make basic research payments to a university under the jurisdiction of the Arizona Board of Regents. This credit can be taken in addition to the Credit for Increased Research Activities and is effective for taxable years beginning from and after December 31, 2012.

 

 

Contributions to Qualifying Charitable Organizations

There are two tax credits available to individual income taxpayers for charitable donations: one for donations to Qualifying Charitable Organizations and one for donations to Qualifying Foster Care Charitable Organizations. Individuals making cash donations made to these charities may claim these tax credits on their Arizona Personal Income Tax returns.

 

 

Investment in Qualified Small Business Credit

 

The Arizona Commerce Authority (ACA) administers the Qualified Small Business Capital Investment program. Income tax credits are equal to 30% or 35% of the investment amount and are claimed over a three year period.