State tax credit programs often align with corresponding federal incentives. At Veritas Tax Credits, we specialize in helping clients navigate and capitalize on state tax credit opportunities. Our team has extensive experience in over 25 states and can help you identify the most advantageous tax credit options in your area.
Beyond offering a strong return on investment, tax credits can also help you:
- Lower your state income tax liability
- Improve your GAAP earnings
- Meet your sustainability goals
About State Tax Credits
Many states offer tax credits to incentivize investments in areas such as affordable housing development, historic preservation, renewable energy projects, and film production. By participating in these programs, you contribute to creating well-paying jobs, developing quality housing, driving economic growth, and revitalizing local communities while keeping more cash for yourself.
State tax credits typically provide dollar-for-dollar reductions against various taxes, including individual, trust, and corporate income taxes, as well as insurance premium and bank taxes. Eligible investors include individuals, corporations, and other business entities.
In some states, tax credits are transferable, meaning they can be sold by the original recipient and purchased by another party. In other cases, investors may need to participate through a partnership or LLC to acquire specific tax credits.
all States and what specific credits the offer
Find your state to view the tax credits available for you or your company so that you can keep more of your hard earned money. As a trusted leader in state tax credit investing, Veritas Tax Credits can secure credits in eligible states when we have sufficient notice and commitment.
Alabama
Individuals: Alabama Historic Rehabilitation Tax Credit, Film Production Incentives.
Businesses: Enterprise Zone Credit, Qualified Investment Partnership Credit.
Alaska
Individuals: No state personal income tax.
Businesses: Film Production Credit, Oil and Gas Tax Credits.
Arizona
Individuals: Charitable Tax Credits, Private School Tuition Tax Credit.
Businesses: R&D Tax Credit, Quality Jobs Tax Credit.
Arkansas
Individuals: Home Energy Efficiency Credit.
Businesses: Tax Back Program, InvestArk Credit.
california
Individuals: California Earned Income Tax Credit (CalEITC).
Businesses: California Competes Tax Credit, R&D Tax Credit.
Colorado
Individuals: Child Care Contribution Credit.
Businesses: Enterprise Zone Credits, Job Growth Incentive Tax Credit.
connecticut
Individuals: Angel Investor Tax Credit.
Businesses: R&D Credit, Apprenticeship Training Tax Credit.
delaware
Individuals: Historic Preservation Tax Credit.
Businesses: New Economy Jobs Program, Green Industries Tax Credit.
florida
Individuals: No state personal income tax.
Businesses: Capital Investment Tax Credit, R&D Tax Credit.
Georgia
Individuals: Education Expense Credit.
Businesses: Film, Television, and Digital Entertainment Tax Credit, Job Tax Credit.
hawaii
Individuals: Renewable Energy Technologies Credit.
Businesses: Motion Picture, Digital Media, and Film Production Tax Credit.
IDAHO
Individuals: Idaho Education Tax Credit.
Businesses: Investment Tax Credit, Research Activities Credit.
illinois
Individuals: Property Tax Credit, Education Expense Credit.
Businesses: EDGE Tax Credit, R&D Credit.
indiana
Individuals: CollegeChoice 529 Education Savings Plan Credit.
Businesses: Headquarters Relocation Tax Credit, R&D Incentives.
iowa
Individuals: Solar Energy System Tax Credit.
Businesses: High Quality Jobs Program, Angel Investor Tax Credit.
kansas
Individuals: Child and Dependent Care Credit.
Businesses: PEAK Program, Angel Investor Tax Credit.
kentucky
Individuals: Tuition Tax Credit.
Businesses: Kentucky Business Investment Program, Skills Training Investment Credit.
louisiana
Individuals: Solar Energy Systems Tax Credit.
Businesses: Motion Picture Production Credit, Digital Interactive Media Credit.
maine
Individuals: Educational Opportunity Tax Credit.
Businesses: Pine Tree Development Zone Credit, R&D Super Credit.
maryland
Individuals: Student Loan Debt Relief Tax Credit.
Businesses: Biotechnology Investment Incentive Tax Credit, Job Creation Tax Credit.
massachusetts
Individuals: Solar and Wind Energy Credits.
Businesses: Film Tax Credit, Investment Tax Credit.
michigan
Individuals: Homestead Property Tax Credit.
Businesses: Data Center Sales and Use Tax Exemption.
minnesota
Individuals: K-12 Education Subtraction and Credit.
Businesses: Angel Tax Credit, R&D Tax Credit.
mississippi
Individuals: Heritage Preservation Tax Credit.
Businesses: Jobs Tax Credit, R&D Skills Tax Credit.
missouri
Individuals: Property Tax Credit (Circuit Breaker).
Businesses: Missouri Works Program, Historic Preservation Tax Credit.
montana
Individuals: Energy Conservation Installation Credit.
Businesses: Film Tax Incentives, Alternative Energy Production Credit.
nebraska
Individuals: School Readiness Tax Credit.
Businesses: Nebraska Advantage Act Credits, R&D Tax Credit.
nevada
Individuals: No state personal income tax.
Businesses: Modified Business Tax Abatement, Nevada Film Tax Credit.
new hampshire
Individuals: No state personal income tax.
Businesses: R&D Tax Credit, Economic Revitalization Zone Credit.
new jersey
Individuals: Child and Dependent Care Credit.
Businesses: Angel Investor Tax Credit, Grow New Jersey Assistance Program.
new mexico
Individuals: Solar Market Development Tax Credit.
Businesses: High Wage Jobs Tax Credit, Film Production Tax Credit.
new york
Individuals: Empire State Child Credit, Solar Energy System Equipment Credit.
Businesses: Film Tax Credit, Excelsior Jobs Program.
north carolina
Individuals: Child Deduction Tax Credit.
Businesses: Job Development Investment Grant, R&D Tax Credit.
north dakota
Individuals: Angel Investor Tax Credit.
Businesses: Agricultural Commodity Processing Facility Investment Credit, Workforce Safety Credits.
ohio
Individuals: Motion Picture Tax Credit.
Businesses: Job Creation Tax Credit, R&D Tax Credit.
oklahoma
Individuals: Energy Efficient Residential Construction Tax Credit.
Businesses: Quality Jobs Program, Investment/New Jobs Tax Credit.
oregon
Individuals: Residential Energy Tax Credit.
Businesses: Business Energy Tax Credit, Film and Video Incentives.
pennsylvania
Individuals: Educational Improvement Tax Credit.
Businesses: Film Production Tax Credit, Keystone Innovation Zone Tax Credit.
rhode island
Individuals: Renewable Energy System Tax Credit.
Businesses: Jobs Development Act Credit, R&D Tax Credits.
south carolina
Individuals: Solar Energy System Credit
Businesses: Job Tax Credit, R&D Tax Credit.
south dakota
Individuals: No state personal income tax.
Businesses: No corporate income tax, Wind Energy Credits.
tennessee
Individuals: No state personal income tax.
Businesses: Job Tax Credit, Industrial Machinery Credit.
texas
Individuals: No state personal income tax.
Businesses: R&D Tax Credit, Texas Enterprise Fund.
utah
Individuals: Renewable Energy Systems Credit.
Businesses: Economic Development Tax Increment Financing, R&D Tax Credit.
vermont
Individuals: Child and Dependent Care Credit.
Businesses: Downtown and Village Center Tax Credit, R&D Tax Credit.
virginia
Individuals: Neighborhood Assistance Program Tax Credit.
Businesses: Major Business Facility Job Tax Credit, Green Job Creation Tax Credit.
washington
Individuals: No state personal income tax.
Businesses: Aerospace Manufacturing Credit, High Technology R&D Tax Credit.
west virginia
Individuals: Family Tax Credit.
Businesses: Film Industry Investment Act, Economic Opportunity Tax Credit.
wisconsin
Individuals: Homestead Credit.
Businesses: Manufacturing and Agriculture Credit, R&D Tax Credit.
wyoming
Individuals: No state personal income tax.
Businesses: No corporate income tax, Data Center Tax Incentives.
Benefits of state tax credits
1. Can be combined with Federal Tax Credits
Maximize your savings by combining state tax credits with the various federal tax credits. Accordingly, this unlocks greater financial benefits while supporting local businesses.
2. Business and Personal Credits
Reduce tax liability, while boosting cash flow, and grow your business or use them for your individual tax liability.