The Technology and Life Science Investment Tax Credit program is available to qualifying investments in qualifying life science establishments. The purpose of the tax credit is to encourage investment in Utah's life science businesses and to create jobs.
to starting this application, please confirm that your investment is eligible to
apply for the tax credit base on the following eligibility requirements:
- the investment is made in a "life science establishment" (bio-technologies, medical devices, diagnostics, pharmaceuticals)
- the "life science establishment" qualifies as a small business per the SBA standards.
- the "life science establishment" has at least 50% of their employees in the state
- the investment is at least $25,000
- the applicant owns less than 30% of the "life science establishment"
- the investment would not have taken place without the investment tax credit
- Other criteria set forth in Utah Code, Rule, and Policy.
If all the eligibility requirements are met, then an applicant may be considered for the tax credit as outlined below:
Technology and Life Science Investment Tax Credit
A tax credit for up to 35% of the purchase price of the qualifying ownership interest over a 3 year term.
- Year 1 - 10%
- Year 2 - 10%
- Year 3- 15%
- Fill out the
- Eligibility will
be confirmed and reviewed.
read each question and provide accurate answers.
- Your application must be accompanied by documentation
that supports your submission.
Please contact Thomas Wadsworth, firstname.lastname@example.org with any questions or
concerns regarding the Technology and Life Science Investment Tax Credit program. Please contact Jaron Janson, email@example.com, for
technical assistance with this portal.