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Tax credits considered for funding incentives in Utah

October 19, 2007 /

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A state economic development incentive program is bringing out-of-state companies’ operations to Utah. Now a state agency is working to make sure the program does not cut into funding education and other allocations.

The Governor’s Office of Economic Development is looking for options for paying out tax-rebate commitments made under its Economic Development Tax Incentive Fund program. Through the relatively new program, the state can offer up to a 30 percent rebate of individual income and corporate taxes, payroll taxes and sales taxes created if a company puts operations in Utah. Procter & Gamble, among others, has received rebate approvals through EDTIF.

By Brice Wallace
Deseret Morning News

Full Story: http://www.deseretnews.com/article/1,5143,695219907,00.html

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