University Research & Development Tax Credit

An individual or corporate income tax credit is available for taxpayers that make basic research payments to a university under the jurisdiction of the Arizona Board of Regents for taxable years from and after December 31, 2011. This credit can be taken in addition to the Credit for Increased Research Activities.

To be eligible to take the additional income tax credit for making basic research payments to Arizona State University, Northern Arizona University or the University of Arizona, a taxpayer must:

  • Have a letter of certification from the Arizona Commerce Authority for taxable years beginning from and after December 31, 2014, and
  • Have a Letter of Approval certifying the credit amount from the Arizona Department of Revenue

 

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