Utah Veteran Credit Removed

The Utah veteran credit for recently deployed veterans will no longer be available beginning in 2016. A Utah State Tax Commission notice indicates that the non-refundable credit against corporate income tax will be removed form the 2016 corporate tax return and may not be claimed or carried forward. The removal is taking place due to the following having been met: (1) the total amount of the credit claimed is less than $10,000; (2) less than 10 persons file a return claiming the credit; and (3) a period of two taxable years has passed after the taxable year in which either (1) and/or (2) occurred.

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