Targeted Business Tax Credit Program Applications Open
The Targeted Business Tax Credit (TBTC) program is designed to encourage private investment and job creation in rural Utah counties with populations of less than 25,000 people. Incentives The TBTC program encourages local businesses to make investments in rural communities. Businesses with projects that meet established criteria may receive up to $100,000 in a refundable tax credit. The total available for all TBTC projects in 2019 is $300,000. The application and certification processes are completed through GOED. The tax credit reimbursement is issued through the Utah State Tax Commission for businesses that meet benchmarks and new-hire goals. The tax credit can be collected regardless of whether or not the business has a state tax liability.
Application period is open from January 1 – February 1, 2019
For more information about the program click Here.