Varies
Amount varies
Tax Credit
Reduces tax liability
Rolling
No fixed cutoff
Annual tax return
Claim with year-end filing
Moderate
File with tax return
State income tax credit for businesses conducting qualifying R&D activities in Arizona. Credit equals 24% of the first $2.5 million in qualifying expenses and 15% above that threshold, mirroring the federal R&D credit structure.
Do I qualify?
Answer the questions below to get an instant self-assessment of your fit for this program. This is informational — final determinations are made by the administering agency.
1.R&D activities must be conducted within Arizona
2.Qualifying expenses must meet IRS Section 41 definitions
3.Small businesses with under $1M in AZ gross receipts may qualify for accelerated credit
4.Credit is nonrefundable but may be carried forward 15 years
5.Claim on AZ Form 308
ACA · Arizona
Provides Arizona corporate income tax credits for qualified renewable energy operations manufacturing solar, wind, geothermal, or fuel cell equipment in Arizona, creating qualifying jobs.
DEED · Minnesota
Credit equal to 25% of investment in certified Minnesota startup companies, available to both individual and corporate investors. Certified businesses must be in technology, new proprietary products/processes, or meet other qualifying criteria. Annual statewide credit cap of $17 million.
DCEO · Illinois
Income tax credit of 25% for individual investors in certified Illinois innovative small businesses. The credit encourages investment in high-tech startups in life sciences, manufacturing, technology, and clean energy, with a $2 million maximum credit per taxpayer.