reglab/statecodes huggingface dataset:
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 5 - Severance Tax on Oil, Gas, and Mining › Part 2 - Mining Severance Tax › Section 202 - Severance tax -- Rate -- Computation -- Annual exemption.

Effective 1/1/2024
59-5-202.
Severance tax -- Rate -- Computation -- Annual exemption.
(1) A person engaged in the business of mining or extracting metalliferous minerals in this state shall pay to the state a severance tax equal to 2.6% of the taxable value of all metals or metalliferous minerals sold or otherwise disposed of.
(2) If the metals or metalliferous minerals are shipped outside the state, this constitutes a sale, and the finished metals or the recoverable units of finished metals from the metalliferous minerals shipped are subject to the severance tax. If the metals or metalliferous minerals are stockpiled, the tax is not applicable until they are sold or shipped out of state. For purposes of the tax imposed by this chapter, uranium concentrates shall be considered to be finished metals. The owner of the metals or metalliferous minerals that are stockpiled shall report to the commission annually, in a form acceptable to the commission, the amount of metalliferous minerals so stockpiled. Metals or metalliferous minerals that are stockpiled for more than two years, however, are subject to the severance tax.
(3) An annual exemption from the payment of the tax imposed by this chapter upon the first $50,000 in gross value of the metalliferous mineral is allowed to each mine.
(4) These taxes are in addition to all other taxes provided by law and are delinquent, unless otherwise deferred, on June 1 next succeeding the calendar year when the metalliferous mineral is produced and sold or delivered.
(5)
(a) As used in this Subsection (5):
(i) "Great Salt Lake extraction operator" means a person who:
(A) is engaged in the business of mining or extracting metalliferous minerals from the brine of the Great Salt Lake; and
(B) enters into a mineral lease with the Division of Forestry, Fire, and State Lands on or after May 3, 2023, or as of July 1, 2020, had a mineral lease with the Division of Forestry, Fire, and State Lands, but not a royalty agreement for a metalliferous mineral, chloride compound, or salt.
(ii) "Metalliferous compound" means a metalliferous mineral or a chloride compound or salt containing a metalliferous mineral.
(b) Notwithstanding the exclusion for chloride compounds or salts from the definition of metalliferous minerals under Section 59-5-201, beginning with calendar year 2024, a Great Salt Lake extraction operator shall pay to the state a severance tax in accordance with this part for the mining of a metalliferous compound.
(c) This Subsection (5) may not be interpreted to:
(i) excuse a person from paying a severance tax in accordance with the other provisions of this part; or
(ii) void a mineral lease or royalty agreement.
(d) A person extracting metalliferous minerals, including a metalliferous compound, from the brine of the Great Salt Lake is subject to the payment of a royalty agreement under Section 65A-6-4 and the payment of a severance tax under this part.
Amended by Chapter 208, 2023 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 5 - Severance Tax on Oil, Gas, and Mining › Part 2 - Mining Severance Tax › Section 204 - Statements filed -- Contents -- Verification -- Falsification as perjury.

59-5-204.
Statements filed -- Contents -- Verification -- Falsification as perjury.
(1) Every person engaged in the business of mining or extracting metalliferous minerals shall make and file with the commission, on or before June 1 of each year on forms furnished by the commission, a statement containing:
(a) the name, description, and location of the mine owned and operated by the person during the preceding calendar year;
(b) the number of tons of mineral mined during the preceding calendar year and the disposition of the mineral;
(c) the total amount received during the preceding calendar year from the sale of minerals; and
(d) such other reasonable and necessary information as the commission may require for the proper enforcement of this chapter as specified in a rule adopted under Title 63G, Chapter 3, Utah Administrative Rulemaking Act.
(2) The owner of the mine shall be responsible for the statement or report required by this section, but the principal lessee, contractor, or operator may, with the consent of the commission, report and pay the tax as agent for the owner. The owner shall be entitled to deduct and remit to the commission any tax chargeable upon the operations conducted by the lessees or other parties.
(3) The statements or reports required to be filed with the commission shall be signed and sworn to by the person required to file the statements or reports, by a partner if a partnership, or by the president, secretary, or managing officer, if a corporation. Any willful false swearing as to the purported material facts set out in this report constitutes the crime of perjury and shall be punished as such under Title 76, Utah Criminal Code.
Amended by Chapter 382, 2008 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 5 - Severance Tax on Oil, Gas, and Mining › Part 2 - Mining Severance Tax › Section 206 - Interest and penalty -- Overpayments.

59-5-206.
Interest and penalty -- Overpayments.
(1) In case of any failure to make or file a return required by this chapter, the penalty provided in Section 59-1-401 and interest at the rate and in the manner prescribed in Section 59-1-402 shall be charged and added to the tax. The amount so added to any tax, whether as a penalty, interest, or both, shall be collected at the same time and in the same manner and as a part of the tax.
(2) An overpayment of a tax imposed by this chapter shall accrue interest at the rate and in the manner prescribed in Section 59-1-402.
Amended by Chapter 1, 1993 Special Session 2
Amended by Chapter 1, 1993 Special Session 2
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 5 - Severance Tax on Oil, Gas, and Mining › Part 2 - Mining Severance Tax › Section 207 - Date tax due -- Extensions -- Installment payments -- Penalty on delinquencies -- Audit.

59-5-207.
Date tax due -- Extensions -- Installment payments -- Penalty on delinquencies -- Audit.
(1) The tax imposed by this chapter is due and payable on or before June 1 of the year next succeeding the calendar year when the mineral is produced and sold or delivered.
(2) The commission may, for good cause shown upon a written application by the taxpayer, extend the time of payment of the whole or any part of the tax for a period not to exceed six months. If an extension is granted, interest at the rate and in the manner prescribed in Section 59-1-402 shall be charged and added to the amount of the deferred payment of the tax.
(3) Every taxpayer subject to this chapter whose total tax obligation for the preceding calendar year was $3,000 or more shall pay the taxes assessed under this chapter in quarterly installments. Each installment shall be based on the estimated gross value received by the taxpayer during the quarter preceding the date on which the installment is due.
(4) The quarterly installments are due as follows:
(a) for January 1 through March 31, on or before June 1;
(b) for April 1 through June 30, on or before September 1;
(c) for July 1 through September 30, on or before December 1; and
(d) for October 1 through December 31, on or before March 1 of the next year.
(5)
(a) If the taxpayer fails to report and pay any tax when due, the taxpayer is subject to the penalties provided under Section 59-1-401, unless otherwise provided in Subsection (6).
(b) An underpayment exists if less than 80% of the tax due for a quarter is paid.
(6) The penalty for failure to pay the tax due or underpayment of tax may not be assessed if the taxpayer's quarterly tax installment payment equals 25% of the tax reported and paid by the taxpayer for the preceding taxable year.
(7) There shall be no interest added to any estimated tax payments subject to a penalty under this section.
(8) The commission may conduct audits to determine whether any tax is owed under this section.
Amended by Chapter 228, 1995 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 5 - Severance Tax on Oil, Gas, and Mining › Part 2 - Mining Severance Tax › Section 208 - Tax as lien.

59-5-208.
Tax as lien.
The tax imposed by this chapter, together with penalties and interest, is and shall remain a lien upon the mine or mining claim from which the mineral is extracted, until the tax is paid. In the case of unpatented claims or leases on unpatented ground, the lien shall be upon the mining rights.
Enacted by Chapter 4, 1988 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 5 - Severance Tax on Oil, Gas, and Mining › Part 2 - Mining Severance Tax › Section 209 - Adjudicative proceedings for correction of amount of tax.

59-5-209.
Adjudicative proceedings for correction of amount of tax.
If any person feels aggrieved because of the amount of the tax determined by the commission, the person may file a request for agency action with the commission within 30 days after notice is mailed to the person, requesting an adjudicative proceeding and the correction of the assessed tax.
Enacted by Chapter 4, 1988 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 5 - Severance Tax on Oil, Gas, and Mining › Part 2 - Mining Severance Tax › Section 210 - Decisions of commission.

59-5-210.
Decisions of commission.
Every decision of the commission shall be in writing and notice of the decision shall be mailed to the taxpayer within 10 days. All decisions become final upon the expiration of 30 days after notice has been mailed to the taxpayer, unless proceedings are taken within such time for a review in accordance with Title 63G, Chapter 4, Administrative Procedures Act, in which case it becomes final as specified in the Administrative Procedures Act.
Amended by Chapter 382, 2008 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 5 - Severance Tax on Oil, Gas, and Mining › Part 2 - Mining Severance Tax › Section 211 - Condition precedent to judicial review.

59-5-211.
Condition precedent to judicial review.
(1) Before seeking judicial review, the taxpayer shall deposit with the commission the full amount of taxes, interest, and other charges audited and stated in the decision of the commission.
(2)
(a) If the party appealing executes an undertaking meeting the requirements of Subsection (2)(b), the party is not required to pay the taxes, interest, and other charges as a condition precedent to obtaining judicial review.
(b) The undertaking shall be filed with the commission in the amount and with the surety approved by the commission.
(c) The undertaking shall provide that, if the appeal is dismissed or the decision of the commission is affirmed, the party appealing will pay all costs and charges that may accrue against the party in the prosecution of the case.
(d) At the option of the party appealing, the undertaking may be in a sum sufficient to cover the taxes, interest, and other charges, audited or stated in the decision, plus the costs or charges that may accrue against the party appealing in the prosecution of the case.
Enacted by Chapter 4, 1988 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 5 - Severance Tax on Oil, Gas, and Mining › Part 2 - Mining Severance Tax › Section 215 - Disposition of taxes collected -- Credit to General Fund.

Effective 5/5/2021
59-5-215.
Disposition of taxes collected -- Credit to General Fund.
Except as provided in Section 51-9-305, 51-9-306, or 51-9-307, a tax imposed and collected under Section 59-5-202 shall be paid to the commission, promptly remitted to the state treasurer, and credited to the General Fund.
Amended by Chapter 401, 2021 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 5 - Severance Tax on Oil, Gas, and Mining › Part 2 - Mining Severance Tax › Section 216 - Tax credit for mining exploration.

Effective 5/4/2022
59-5-216.
Tax credit for mining exploration.
(1) As used in this section:
(a) "Eligible claimant" means a person:
(i) who is an eligible claimant as defined in Section 40-6-24 and obtains a tax credit certificate; or
(ii) to whom a person described in Subsection (1)(a)(i) assigns a tax credit certificate and obtains an assigned tax credit certificate in accordance with Section 40-6-24.
(b) "Tax credit certificate" means the same as that term is defined in Section 40-6-24.
(2) Subject to Subsection (3), an eligible claimant may claim a nonrefundable tax credit against severance tax otherwise due under this part in an amount equal to the amount stated on the tax credit certificate for the taxable year.
(3) An eligible claimant may not claim in any taxable year a credit under this section that exceeds 30% of the eligible claimant's severance tax liability for the taxable year.
(4) An eligible claimant may carry forward to the next 15 taxable years the amount of the eligible claimant's tax credit that exceeds the amount described in Subsection (3).
Enacted by Chapter 108, 2022 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 6 - Mineral Production Tax Withholding › Section 101 - Definitions.

59-6-101.
Definitions.
As used in this chapter:
(1) "Business entity" means a claimant that is a:
(a) C corporation;
(b) S corporation;
(c) general partnership;
(d) limited liability company;
(e) limited liability partnership;
(f) limited partnership; or
(g) business entity similar to Subsections (1)(c) through (f):
(i) with respect to which the business entity's income or losses are divided among and passed through to taxpayers; and
(ii) as defined by the commission by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.
(2)
(a) Except as provided in Subsection (2)(b), "claimant" means a resident or nonresident person.
(b) "Claimant" does not include an estate or trust.
(3) "Estate" means a nonresident estate or a resident estate.
(4) "Minerals" means:
(a) metalliferous minerals as defined in Section 59-2-102;
(b) nonmetalliferous minerals as defined in Section 59-2-102; or
(c) a combination of Subsections (4)(a) and (b).
(5) "Producer" means a person that:
(a) produces or extracts minerals from deposits in this state; or
(b) is the first purchaser of minerals produced or extracted from deposits in this state.
(6) "Refundable tax credit" or "tax credit" means a tax credit that a claimant, estate, or trust may claim:
(a) as provided by statute; and
(b) regardless of whether the claimant, estate, or trust has a tax liability:
(i) for a tax imposed under:
(A)Chapter 7, Corporate Franchise and Income Taxes;
(B)Chapter 8, Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act; or
(C)Chapter 10, Individual Income Tax Act; and
(ii) for the taxable year for which the claimant, estate, or trust claims the tax credit.
(7) "Taxable year" means the taxable year of a claimant, estate, or trust under:
(a)Chapter 7, Corporate Franchise and Income Taxes;
(b)Chapter 8, Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act; or
(c)Chapter 10, Individual Income Tax Act.
(8) "Tax return" means a return required by:
(a)Chapter 7, Corporate Franchise and Income Taxes;
(b)Chapter 8, Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act; or
(c)Chapter 10, Individual Income Tax Act.
(9) "Trust" means a nonresident trust or a resident trust.
(10) "Withholding return" means a return a producer is required to file under this chapter.
Amended by Chapter 255, 2008 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 6 - Mineral Production Tax Withholding › Section 102 - Producer's obligation to deduct and withhold payments -- Amount -- Exempt payments -- Credit against tax.

59-6-102.
Producer's obligation to deduct and withhold payments -- Amount -- Exempt payments -- Credit against tax.
(1) Except as provided in Subsection (2), each producer shall deduct and withhold from each payment being made to any person in respect to production of minerals in this state, but not including that to which the producer is entitled, an amount equal to 5% of the amount which would have otherwise been payable to the person entitled to the payment.
(2) The obligation to deduct and withhold from payments as provided in Subsection (1) does not apply to those payments which are payable to:
(a) the United States, this state, or an agency or political subdivision of the United States or this state;
(b) an organization that is exempt from the taxes imposed by Chapter 7, Corporate Franchise and Income Taxes, in accordance with Subsection 59-7-102(1)(a);
(c) an Indian or Indian tribe if the amounts accruing are subject to the supervision of the United States or an agency of the United States; or
(d) a business entity that files an exemption certificate in accordance with Section 59-6-102.1.
(3) A claimant, estate, or trust that files a tax return with the commission may claim a refundable tax credit against the tax reflected on the tax return for the amount withheld by the producer under Subsection (1).
Amended by Chapter 255, 2008 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 6 - Mineral Production Tax Withholding › Section 102.1 - Exemption certificate -- Penalties -- Limit on filing exemption certificate.

59-6-102.1.
Exemption certificate -- Penalties -- Limit on filing exemption certificate.
(1) For a taxable year, a business entity may file an exemption certificate claiming an exemption from the deduction and withholding requirements of this chapter if:
(a) for that taxable year, the business entity is required to file a tax return with the commission;
(b) for that taxable year, the business entity expects to claim a refund on a tax return of at least 75% of the amount that would otherwise be required to be deducted and withheld under this chapter; and
(c) regardless of whether the business entity sells or otherwise disposes of the business entity's interest in the production of minerals, the business entity consents to the jurisdiction of the commission to enforce:
(i) an amount required to be deducted and withheld under this chapter; or
(ii) a penalty imposed under this chapter.
(2) A business entity filing an exemption certificate in accordance with Subsection (1) shall file the exemption certificate:
(a) with the:
(i) producer; and
(ii) commission; and
(b) on a form prescribed by the commission.
(3)
(a) In addition to any other penalty provided by law, a business entity is subject to the penalty described in Subsection (3)(b) if the business entity:
(i) files an exemption certificate in accordance with this section; and
(ii) does not file a tax return with the commission for the taxable year for which the business entity files the exemption certificate described in Subsection (3)(a)(i).
(b) For purposes of Subsection (3)(a), the penalty is 100% of the amount that the producer would have deducted and withheld under this chapter for the taxable year had the business entity not filed an exemption certificate under this section for that taxable year.
(c) The commission shall collect the penalty described in Subsection (3)(b).
(4) If a business entity is subject to the penalty described in Subsection (3), the business entity may not file an exemption certificate under this section for five taxable years beginning with the taxable year that the business entity is subject to the penalty described in Subsection (3).
(5) In addition to any other penalty provided by law, a business entity is subject to a penalty of 5% of the amount that a producer would otherwise be required to deduct and withhold under this chapter for the taxable year if:
(a) the business entity files an exemption certificate under this section for a taxable year; and
(b) had the business entity not filed the exemption certificate under this section for the taxable year, the business entity:
(i) would have been allowed to claim a refund on a tax return for the taxable year in an amount less than 75% of the amount required to be deducted and withheld under this chapter for the taxable year; or
(ii) would not have been allowed to claim a refundable tax credit under Section 59-6-102 for the taxable year.
Enacted by Chapter 255, 2008 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 6 - Mineral Production Tax Withholding › Section 104 - Commission administration of chapter -- Rulemaking authority.

59-6-104.
Commission administration of chapter -- Rulemaking authority.
(1) To the extent the following are consistent with this chapter, the commission shall administer this chapter in accordance with:
(a)Chapter 1, General Taxation Policies; and
(b)Chapter 10, Part 4, Withholding of Tax.
(2) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commission may make rules necessary to effectuate the purposes of this chapter.
Amended by Chapter 212, 2009 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 102 - Exemptions.

Effective 5/9/2017
59-7-102.
Exemptions.
(1) Except as provided in this section, the following are exempt from a tax under this chapter:
(a) an organization exempt under Section 501, Internal Revenue Code;
(b) an organization exempt under Section 528, Internal Revenue Code;
(c) an insurance company that is subject to taxation on the insurance company's premiums under Chapter 9, Taxation of Admitted Insurers, regardless of whether the insurance company has a tax liability under that chapter;
(d) a local building authority as defined in Section 17D-2-102;
(e) a farmers' cooperative;
(f) a public agency, as defined in Section 11-13-103, with respect to or as a result of an ownership interest in:
(i) a project, as defined in Section 11-13-103; or
(ii) facilities providing additional project capacity, as defined in Section 11-13-103;
(g) an insurance company that engages in a transaction that is subject to taxation under Section 31A-3-301 or 31A-3-302, regardless of whether the insurance company has a tax liability under that section; or
(h) a captive insurance company that pays a fee under Section 31A-3-304.
(2) A corporation is exempt from a tax under this chapter:
(a) if the corporation is an out-of-state business as defined in Section 53-2a-1202; and
(b) for income earned:
(i) during a disaster period as defined in Section 53-2a-1202; and
(ii) for the purpose of responding to a declared state disaster or emergency as defined in Section 53-2a-1202.
(3) Notwithstanding any other provision in this chapter or Chapter 8, Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act, a person not otherwise subject to the tax imposed by this chapter or Chapter 8, Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act, is not subject to a tax imposed by Section 59-7-104, 59-7-201, 59-7-701, or 59-8-104, because of:
(a) that person's ownership of tangible personal property located at the premises of a printer's facility in this state with which the person has contracted for printing; or
(b) the activities of the person's employees or agents who are:
(i) located solely at the premises of a printer's facility; and
(ii) performing services:
(A) related to:
(I) quality control;
(II) distribution; or
(III) printing services; and
(B) performed by the printer's facility in this state with which the person has contracted for printing.
(4) Notwithstanding Subsection (1), an organization, company, authority, farmers' cooperative, or public agency exempt from this chapter under Subsection (1) is subject to Part 8, Unrelated Business Income, to the extent provided in Part 8, Unrelated Business Income.
(5) Notwithstanding Subsection (1)(b), to the extent the income of an organization described in Subsection (1)(b) is taxable for federal tax purposes under Section 528, Internal Revenue Code, the organization's income is also taxable under this chapter.
Amended by Chapter 168, 2017 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 103 - Chapter applicable to receivers, trustees in bankruptcy and assignees.

59-7-103.
Chapter applicable to receivers, trustees in bankruptcy and assignees.
Unless otherwise provided in this chapter, receivers, trustees in bankruptcy, and assignees for creditors required to make returns under this chapter shall be subject to the provisions of this chapter.
Repealed and Re-enacted by Chapter 169, 1993 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 104 - Tax -- Minimum tax.

Effective 5/3/2023
59-7-104.
Tax -- Minimum tax.
(1) Each domestic and foreign corporation, except a corporation that is exempt under Section 59-7-102, shall pay an annual tax to the state based on the corporation's Utah taxable income for the taxable year for the privilege of exercising the corporation's corporate franchise or for the privilege of doing business in the state.
(2) The tax shall be 4.65% of a corporation's Utah taxable income.
(3) The minimum tax a corporation shall pay under this chapter is $100.
Amended by Chapter 459, 2023 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 107 - Basis.

59-7-107.
Basis.
(1)
(a) For property acquired after December 31, 1993, basis shall be determined pursuant to the Internal Revenue Code without reference to Section 1502, Internal Revenue Code, or regulations promulgated under that section.
(b) Notwithstanding Subsection (1)(a), adjustments for basis in a combined report may be established by rules promulgated by the tax commission.
(2) For property acquired after December 31, 1930, but before January 1, 1994, basis shall be determined under Utah law in effect at the time the property was acquired.
(3)
(a) Except as provided in Subsection (3)(c), the basis for determining the gain or loss from the sale or other disposition of property acquired before January 1, 1931, shall be:
(i) the cost of such property or in the case of property acquired by gift or transfer in trust, the fair market value of such property at the time of such acquisition; or
(ii) the fair market value of such property as of January 1, 1931, whichever is greater.
(b) In determining the fair market value of stock in a corporation as of January 1, 1931, due regard shall be given to the fair market value of the assets of the corporation as of that date.
(c)
(i) In determining the basis for inventory acquired before January 1, 1931, if the property should have been included in the last inventory, the basis shall be the value of that property at the last inventory.
(ii) In determining the basis for bequests and devises acquired before January 1, 1931, if personal property was acquired by specific bequest, or if real property was acquired by general or specific devise, the basis shall be the fair market value of the property at the time of the death of the decedent. In all other cases if the property was acquired by will, the basis shall be the fair market value of the property at the time of the distribution to the taxpayer.
(iii) In determining the basis for property acquired before January 1, 1931, during affiliation in which a combined report is filed under either Section 59-7-402 or 59-7-403, the basis shall be determined in accordance with rules prescribed by the commission.
(4) If any property subject to taxation under this chapter was acquired before January 1, 1931, the basis of such property, if other than the fair market value as of January 1, 1931, shall be diminished in the amount of exhaustion, wear and tear, obsolescence, and depletion actually sustained before such date.
Repealed and Re-enacted by Chapter 169, 1993 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 108 - Distributions by corporations.

59-7-108.
Distributions by corporations.
(1)
(a) For purposes of this chapter, a distribution is made out of earnings or profits to the extent of the earnings or profits, and from the most recently accumulated earnings or profits.
(b)
(i) Subject to Subsection (1)(b)(ii), any earnings or profits accumulated or increase in value of property accrued before January 1, 1931, may be excluded from taxable income after the earnings and profits accumulated after December 31, 1930 have been distributed.
(ii) A distribution described in Subsection (1)(b)(i) shall be applied against and reduce the basis of the stock.
(2)
(a) Subject to Subsection (2)(b), if any distribution that is not in partial or complete liquidation is made by a corporation to its shareholders, is not out of increase in value of property accrued before January 1, 1931, and is not out of earnings or profits, the amount of the distribution shall be applied against and reduce the basis of the stock.
(b) If a distribution described in Subsection (2)(a) is in excess of the basis of the stock, the excess shall be treated as a gain from the sale or exchange of property.
Amended by Chapter 69, 2011 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 109 - Charitable contributions.

59-7-109.
Charitable contributions.
(1) Except as provided in Subsection (2), a subtraction is allowed for charitable contributions made within the taxable year to organizations described in Section 170(c), Internal Revenue Code.
(2) The aggregate amount of charitable contributions deductible under this section may not exceed 10% of the taxpayer's apportionable income. The limitation imposed in this subsection shall be calculated on a combined basis in a combined report.
(3) Any charitable contribution made in a taxable year beginning on or after January 1, 1994, which is in excess of the amount allowed as a deduction under Subsection (2) may be carried over to the five succeeding taxable years in the same manner as allowed under federal law.
Amended by Chapter 311, 1995 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 109.1 - Charitable contributions to the Special Needs Opportunity Scholarship Program.

Effective 1/1/2021
59-7-109.1.
Charitable contributions to the Special Needs Opportunity Scholarship Program.
(1) Notwithstanding anything to the contrary in Section 59-7-109, a taxpayer may not subtract a charitable contribution that meets the requirements of Section 59-7-109 to the extent that the taxpayer claims a tax credit under Section 59-7-625 for the same charitable contribution.
(2) This section supersedes any conflicting provisions of Utah law.
Enacted by Chapter 3, 2020 Special Session 4
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 111 - Safe harbor lease provisions.

59-7-111.
Safe harbor lease provisions.
(1)
(a) For purchasers or lessors of safe harbor leases, the following additions shall be made to unadjusted income:
(i) interest expense; and
(ii) depreciation claimed on safe harbor lease property.
(b) For purchasers or lessors of safe harbor leases, the following subtractions shall be made from unadjusted income:
(i) rental income; and
(ii) amortization of the purchase price of tax benefits.
(2)
(a) For sellers or lessees of safe harbor leases the following additions shall be made from unadjusted income:
(i) the amount of gain on the sale of federal tax benefits; and
(ii) rental expense on safe harbor lease property.
(b) For sellers or lessees of safe harbor leases the following subtractions shall be made to unadjusted income:
(i) interest income; and
(ii) depreciation on safe harbor lease property.
Repealed and Re-enacted by Chapter 169, 1993 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 112 - Installment sales.

59-7-112.
Installment sales.
(1) Except as provided in Subsections (2) and (3), installment sales shall be governed by Sections 453, 453A, and 453B, Internal Revenue Code.
(2) Installment sales entered into prior to January 1, 1994, shall be recognized as originally reported.
(3) If a corporation is no longer required to file a Utah corporate return, any taxes owed by that corporation on installment sales entered into by that corporation shall accelerate and be due on the corporation's last return filed in Utah.
Repealed and Re-enacted by Chapter 169, 1993 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 113 - Allocation of income and deductions between several corporations controlled by same interests.

59-7-113.
Allocation of income and deductions between several corporations controlled by same interests.
If two or more corporations (whether or not organized or doing business in this state, and whether or not affiliated) are owned or controlled directly or indirectly by the same interests, the commission is authorized to distribute, apportion, or allocate gross income or deductions between or among such corporations, if it determines that such distribution, apportionment, or allocation is necessary in order to prevent evasion of taxes or clearly to reflect the income of any of such corporations.
Repealed and Re-enacted by Chapter 169, 1993 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 114 - Section 338, Internal Revenue Code -- Elections.

59-7-114.
Section 338, Internal Revenue Code -- Elections.
(1) Transactions for which an election has been made or considered to be made for federal purposes under Section 338, Internal Revenue Code, shall be treated as provided in this section. An election is not available for state purposes unless an election is made or considered to be made for federal purposes.
(2) If an election is made or considered to be made for federal purposes under Section 338, Internal Revenue Code, other than under Subsection 338(h)(10):
(a) the target corporation shall file a separate entity one-day tax return for state purposes, as is required for federal purposes, and shall include in such return the gain or loss on the deemed sale of assets in its adjusted income;
(b) the gain or loss on the deemed sale of assets shall be apportioned to this state using the apportionment fraction of the target corporation calculated on a separate entity basis for the most recent preceding taxable year consisting of 180 days or more; and
(c) the due date of the one-day return shall be the same as the due date of the return which includes the taxable period of the target corporation which immediately precedes the one-day return.
(3) If an election is made for federal purposes under Subsection 338(h)(10), Internal Revenue Code, the following shall apply:
(a) if the target corporation is a member of a unitary group immediately preceding the acquisition date, the target corporation shall be included in a combined return to the extent of its income through the acquisition date, and the gain or loss on the deemed sale of assets shall be included in the combined income of the unitary group;
(b) if the target corporation is not a member of a unitary group immediately preceding the acquisition date, the target corporation shall file a short period return for the period ending on the acquisition date and shall include in such return the gain or loss on the deemed sale of assets in its adjusted income; and
(c) any gain or loss which is not recognized for federal purposes on stock sold or exchanged by a member of a selling consolidated group as defined in Section 338, Internal Revenue Code, may not be included in the adjusted income of the selling corporation.
(4) There is a rebuttable presumption that the gain or loss on the deemed sale of assets constitutes business income.
(5) The new basis of the target corporation's assets shall be determined under Section 338, Internal Revenue Code.
(6) The target corporation shall be treated as a new corporation as of the day after the acquisition date.
(7) The commission may prescribe such rules as necessary to provide for the equitable treatment of any transaction subject to Section 338, Internal Revenue Code.
Amended by Chapter 9, 2001 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 115 - Section 336(e), Internal Revenue Code -- Elections.

59-7-115.
Section 336(e), Internal Revenue Code -- Elections.
(1) Transactions for which an election has been made for federal purposes under Section 336(e), Internal Revenue Code, shall be treated as provided in this section. An election is not available for state purposes unless an election is made for federal purposes.
(2) If an election is made under Section 336(e), Internal Revenue Code, the following shall apply:
(a) if the corporation is treated for federal purposes as having disposed of all of its assets and is a member of a unitary group immediately preceding the date of sale, the corporation shall be included in a combined return to the extent of its income through the date of sale, and the gain or loss on the deemed disposal of assets shall be included in the combined income of the unitary group;
(b) if the corporation is treated for federal purposes as having disposed of all of its assets and is not a member of a unitary group immediately preceding the date of sale, the corporation shall file a short period return for the period ending on the date of sale and shall include in such return the gain or loss on the deemed disposal of assets in its adjusted income; and
(c) any gain or loss which is not recognized for federal purposes on stock sold, exchanged, or distributed by a corporation pursuant to Section 336(e), Internal Revenue Code, may not be included in adjusted income.
(3) There is a rebuttable presumption that the gain or loss on the deemed disposition of assets constitutes business income.
(4) The new basis of assets of the corporation which is treated as having disposed of its assets shall be the same as determined for federal purposes.
(5) The corporation which is treated as having disposed of its assets shall be treated as a new corporation as of the day after the date of sale.
(6) The commission may prescribe such rules as necessary to provide for the equitable treatment of any transaction subject to Section 336(e), Internal Revenue Code.
Repealed and Re-enacted by Chapter 169, 1993 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 116 - Taxation of regulated investment companies.

59-7-116.
Taxation of regulated investment companies.
(1) A regulated investment company or a fund of such a company, as defined in Sections 851(a) or 851(g), Internal Revenue Code, which is organized under the laws of Utah, shall determine Utah taxable income as follows:
(a) calculate investment company taxable income, as determined in Section 852(b)(2), Internal Revenue Code;
(b) add any municipal interest and the exclusion of net capital gain provided in Section 852(b)(2)(A), Internal Revenue Code; and
(c) subtract the deduction for the capital gain dividends and exempt interest dividends as defined in Sections 852(b)(3)(C) and 852(b)(5), Internal Revenue Code.
(2) A regulated investment company which is organized under the laws of Utah or a fund of such a company, shall be taxed at the same rate and in the same manner as a corporation as provided in this chapter.
Amended by Chapter 250, 2008 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 116.5 - Real estate investment trusts.

59-7-116.5.
Real estate investment trusts.
(1) A real estate investment trust that is not a captive real estate investment trust shall be taxed on the same income taxed for federal purposes under the Internal Revenue Code.
(2) Any income taxable under this section shall be taxed at the same rate and in the same manner provided for in this chapter.
Amended by Chapter 389, 2008 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 117 - Equitable adjustments.

59-7-117.
Equitable adjustments.
The commission shall by rule prescribe for adjustments to Utah taxable income when, solely by reason of the enactment of this chapter, a taxpayer would otherwise receive or have received a double tax benefit or suffer or have suffered a double tax detriment. However, the commission may not make any adjustment pursuant to this section which will result in an increase or decrease of tax liability that is less than $25.
Repealed and Re-enacted by Chapter 169, 1993 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 118 - Section 965, Internal Revenue Code -- Installment payments.

Effective 5/5/2021
59-7-118.
Section 965, Internal Revenue Code -- Installment payments.
(1) Subject to the other provisions of this section, a corporation may pay in installments the tax owed under this chapter on deferred foreign income described in Section 965, Internal Revenue Code.
(2) Subsection (1) applies:
(a) to a corporation that:
(i) is authorized to make an election under Section 965(h), Internal Revenue Code; and
(ii) apportions deferred foreign income described in Section 965, Internal Revenue Code, to this state; and
(b) for a tax year in which a corporation makes an election under Section 965(h), Internal Revenue Code, for purposes of the corporation's federal income tax.
(3)
(a) Except as provided in Subsection (3)(b), the same provisions that apply to an election made under Section 965(h), Internal Revenue Code, for federal purposes apply to an installment payment made under this section.
(b) A corporation shall make:
(i) the first installment under this section on or before the due date of the tax return filed under this chapter for the first taxable year in which the corporation reports deferred foreign income described in Section 965, Internal Revenue Code; and
(ii) a subsequent installment on or before the due date of the tax return filed under this chapter in each of the following seven years.
Amended by Chapter 367, 2021 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 1 - Corporate Tax Generally › Section 159 - Review of credits allowed under this chapter.

Effective 5/4/2022
59-7-159.
Review of credits allowed under this chapter.
(1) As used in this section, "committee" means the Revenue and Taxation Interim Committee.
(2)
(a) The committee shall review the tax credits described in this chapter as provided in Subsection (3) and make recommendations concerning whether the tax credits should be continued, modified, or repealed.
(b) In conducting the review required under Subsection (2)(a), the committee shall:
(i) schedule time on at least one committee agenda to conduct the review;
(ii) invite state agencies, individuals, and organizations concerned with the tax credit under review to provide testimony;
(iii)
(A) invite the Governor's Office of Economic Opportunity to present a summary and analysis of the information for each tax credit regarding which the Governor's Office of Economic Opportunity is required to make a report under this chapter; and
(B) invite the Office of the Legislative Fiscal Analyst to present a summary and analysis of the information for each tax credit regarding which the Office of the Legislative Fiscal Analyst is required to make a report under this chapter;
(iv) ensure that the committee's recommendations described in this section include an evaluation of:
(A) the cost of the tax credit to the state;
(B) the purpose and effectiveness of the tax credit; and
(C) the extent to which the state benefits from the tax credit; and
(v) undertake other review efforts as determined by the committee chairs or as otherwise required by law.
(3)
(a) On or before November 30, 2017, and every three years after 2017, the committee shall conduct the review required under Subsection (2) of the tax credits allowed under the following sections:
(i) Section 59-7-601;
(ii) Section 59-7-607;
(iii) Section 59-7-612;
(iv) Section 59-7-614.1; and
(v) Section 59-7-614.5.
(b) On or before November 30, 2018, and every three years after 2018, the committee shall conduct the review required under Subsection (2) of the tax credits allowed under the following sections:
(i) Section 59-7-609;
(ii) Section 59-7-614.2;
(iii) Section 59-7-614.10; and
(iv) Section 59-7-619.
(c) On or before November 30, 2019, and every three years after 2019, the committee shall conduct the review required under Subsection (2) of the tax credits allowed under the following sections:
(i) Section 59-7-610;
(ii) Section 59-7-614; and
(iii) Section 59-7-614.7.
(d)
(i) In addition to the reviews described in this Subsection (3), the committee shall conduct a review of a tax credit described in this chapter that is enacted on or after January 1, 2017.
(ii) The committee shall complete a review described in this Subsection (3)(d) three years after the effective date of the tax credit and every three years after the initial review date.
Amended by Chapter 264, 2022 General Session
Amended by Chapter 274, 2022 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 2 - Corporate Income Tax › Section 201 - Tax -- Minimum tax.

Effective 5/3/2023
59-7-201.
Tax -- Minimum tax.
(1) There is imposed upon each corporation, except a corporation that is exempt under Section 59-7-102, a tax upon the corporation's Utah taxable income for the taxable year that is derived from sources within this state other than income for any period that the corporation is required to include in the corporation's tax base under Section 59-7-104.
(2) The tax imposed by Subsection (1) shall be 4.65% of a corporation's Utah taxable income.
(3) In no case shall the tax be less than $100.
Amended by Chapter 459, 2023 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 2 - Corporate Income Tax › Section 203 - Computation of Utah taxable income.

59-7-203.
Computation of Utah taxable income.
For purposes of the tax imposed by this part, Utah taxable income shall be determined in accordance with Part 1, Corporate Tax Generally, except that wherever the date December 31, 1930 appears, the date December 31, 1958 shall be substituted, and wherever the date January 1, 1931 appears, the date January 1, 1959 shall be substituted.
Amended by Chapter 169, 1993 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 2 - Corporate Income Tax › Section 204 - Income attributed to sources within the state.

59-7-204.
Income attributed to sources within the state.
For the purposes of the tax imposed by this part, the portion of Utah taxable income derived from or attributable to sources within this state shall be determined in accordance with Part 3, Allocation and Apportionment of Income - Utah UDITPA Provisions and Part 4, Combined Reporting.
Amended by Chapter 4, 1993 General Session
Amended by Chapter 169, 1993 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 2 - Corporate Income Tax › Section 205 - Applicability of Parts 5 and 6 of chapter.

59-7-205.
Applicability of Parts 5 and 6 of chapter.
For purposes of the tax imposed by this part, Part 5, Procedures and Administration and Part 6, Credits, shall apply.
Amended by Chapter 169, 1993 General Session