Effective 5/10/2016 59-10-1002.1. Removal of tax credit from tax return and prohibition on claiming a tax credit — Conditions for removal and prohibition on claiming a tax credit — Commission publishing requirements. (1) As used in this section, “tax return” means a tax return filed in accordance with this chapter. (2) Except as provided in […]
Effective 5/4/2022 59-10-1002.2. Apportionment of tax credits. (1) A nonresident individual or a part-year resident individual that claims a tax credit in accordance with Section 59-10-1017, 59-10-1018, 59-10-1019, 59-10-1022, 59-10-1023, 59-10-1024, 59-10-1028, 59-10-1042, 59-10-1043, or 59-10-1044 may only claim an apportioned amount of the tax credit equal to: (a) for a nonresident individual, the product […]
59-10-1003. Tax credit for tax paid by individual to another state. (1) Except as provided in Subsection (2), a claimant, estate, or trust may claim a nonrefundable tax credit against the tax otherwise due under this chapter equal to the amount of the tax imposed: (a) on that claimant, estate, or trust for the taxable […]
59-10-1004. Tax credit for cash contributions to sheltered workshops. (1) For tax years beginning January 1, 1983, and thereafter, in computing the tax due the state under Section 59-10-104 there shall be a nonrefundable tax credit allowed for cash contributions made by a claimant, estate, or trust within the taxable year to nonprofit rehabilitation sheltered […]
Effective 3/24/2022 59-10-1005. Tax credit for at-home parent. (1) As used in this section: (a) “At-home parent” means a parent: (i) who provides full-time care at the parent’s residence for one or more of the parent’s own qualifying children; (ii) who claims the qualifying child as a dependent on the parent’s individual income tax return […]
59-10-1006. Historic preservation tax credit. (1) (a) For tax years beginning January 1, 1993, and thereafter, there is allowed to a claimant, estate, or trust, as a nonrefundable tax credit against the income tax due, an amount equal to 20% of qualified rehabilitation expenditures, costing more than $10,000, incurred in connection with any residential certified […]
Affected by 63I-2-259 on 12/31/2024 Effective 5/5/2021 59-10-1007. Recycling market development zones tax credits. (1) Subject to other provisions of this section, a claimant, estate, or trust in a recycling market development zone as defined in Section 19-13-102 may claim the following nonrefundable tax credits: (a) a tax credit equal to the product of the […]
Effective 5/12/2020 59-10-1010. Utah low-income housing tax credit. (1) As used in this section: (a) “Allocation certificate” means a certificate in a form prescribed by the commission and issued by the Utah Housing Corporation to a housing sponsor that specifies the aggregate amount of the tax credit awarded under this section to a qualified development […]
Effective 7/17/2016 59-10-1012. Tax credits for research activities conducted in the state — Carry forward — Commission to report modification or repeal of certain federal provisions — Revenue and Taxation Interim Committee study. (1) (a) A claimant, estate, or trust meeting the requirements of this section may claim the following nonrefundable tax credits: (i) a […]
Effective 7/17/2016 59-10-1013. Tax credits for machinery, equipment, or both primarily used for conducting qualified research or basic research — Carry forward — Commission to report modification or repeal of certain federal provisions — Revenue and Taxation Interim Committee study. (1) As used in this section: (a) “Basic research” means the same as that term […]
Effective 7/1/2021 59-10-1014. Nonrefundable renewable energy systems tax credits — Definitions — Certification — Rulemaking authority. (1) As used in this section: (a) (i) “Active solar system” means a system of equipment that is capable of: (A) collecting and converting incident solar radiation into thermal, mechanical, or electrical energy; and (B) transferring a form of […]
59-10-1015. Definitions — Tax credit for live organ donation expenses — Rulemaking authority. (1) As used in this section: (a) “human organ” means: (i) human bone marrow; or (ii) any part of a human: (A) intestine; (B) kidney; (C) liver; (D) lung; or (E) pancreas; (b) “live organ donation” means that an individual who is […]
Effective 5/5/2021 59-10-1017. Utah Educational Savings Plan tax credit. (1) As used in this section: (a) “Account owner” means the same as that term is defined in Section 53B-8a-102. (b) “Grantor trust” means the same as that term is defined in Section 53B-8a-102.5. (c) “Higher education costs” means the same as that term is defined […]
Effective 5/5/2021 59-10-1018. Definitions — Nonrefundable taxpayer tax credits. (1) As used in this section: (a) “Head of household filing status” means a head of household, as defined in Section 2(b), Internal Revenue Code, who files a single federal individual income tax return for the taxable year. (b) “Joint filing status” means: (i) spouses who […]
Effective 3/23/2022 59-10-1019. Definitions — Nonrefundable retirement tax credit. (1) As used in this section: (a) “Eligible claimant” means a claimant, regardless of whether that claimant is retired, who was born on or before December 31, 1952. (b) “Head of household filing status” means the same as that term is defined in Section 59-10-1018. (c) […]
59-10-1020. Nonrefundable estate or trust tax credit. (1) For taxable years beginning on or after January 1, 2008, an estate or trust may claim a nonrefundable tax credit against taxes otherwise due under Part 2, Trusts and Estates, equal to the product of: (a) the sum of: (i) the amount that a resident or nonresident […]
Effective 5/5/2021 59-10-1022. Nonrefundable tax credit for capital gain transactions. (1) As used in this section: (a) (i) “Capital gain transaction” means a transaction that results in a: (A) short-term capital gain; or (B) long-term capital gain. (ii) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commission may by rule define […]
Effective 5/5/2021 59-10-1023. Nonrefundable tax credit for amounts paid under a health benefit plan. (1) As used in this section: (a) “Claimant with dependents” means a claimant: (i) regardless of the claimant’s filing status for purposes of filing a federal individual income tax return for the taxable year; and (ii) who claims one or more […]
Effective 7/1/2021 59-10-1024. Nonrefundable tax credit for qualifying solar projects. (1) As used in this section: (a) “Active solar system” means the same as that term is defined in Section 59-10-1014. (b) “Office” means the Office of Energy Development created in Section 79-6-401. (c) “Purchaser” means a claimant, estate, or trust that purchases one or […]
Effective 5/14/2019 59-10-1025. Nonrefundable tax credit for investment in certain life science establishments. (1) As used in this section: (a) “Commercial domicile” means the principal place from which the trade or business of a Utah small business corporation is directed or managed. (b) “Eligible claimant, estate, or trust” means the same as that term is […]
