Tax Credit for Small Employer Retirement Programs

On March 28, 2017, Utah Governor Gary Herber signed legislation (S.B. 109) regarding small employer retirement programs. The bill establishes an income tax credit for certain small employers that offer employees access to a qualified retirement plan. Small employer means an employer in the state that has at least 10, but fewer than 20 employees who work in the state.

The credit applies for tax years beginning on or after January 1, 2018.

Read UT S.B. 109