State Credit Name: Research and Development Income Tax Credit for Enterprise Zones

Expiration Date: Permanent

Who Can Apply? Corporations and flow-through entities

Credit Carry Forward: Unlimited carry forward, but no carry back

About the Credit: The credit rate is 3% and the dollar limit that is imposed on the amount of expenses that can qualify is 25% of the amount of the credit. Taxpayers can claim the remaining 75% in 25% increments over the next 3 years. Unlike most state research credits, the qualifying research activities do not have to be performed within Colorado.

Notes: The Colorado research credit only adopts one of the requirements in the federal definition of qualified research activities, being that the expenses meet the definition of research and experimental expenditures. The credit does not require taxpayers to be able to currently deduct their R&E expenditures, which allows taxpayers to claim the credit for research activities that would not qualify for the federal research credit.

Click here to find out if you qualify for the federal research credit.

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