reglab/statecodes huggingface dataset:
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 5 - Procedures and Administration › Section 532 - Revenue received by commission -- Deposit with state treasurer -- Distribution or crediting to Income Tax Fund -- Refund claim payments.

Effective 3/24/2022
59-7-532.
Revenue received by commission -- Deposit with state treasurer -- Distribution or crediting to Income Tax Fund -- Refund claim payments.
(1)
(a) The commission shall deposit at least quarterly all revenue collected or received by the commission under this chapter with the state treasurer.
(b) The commission shall, subject to the refund provisions of this section, distribute or credit, at least quarterly and based on a pro rata share of Income Tax Fund and Uniform School Fund appropriations for the current fiscal year, the revenue described in Subsection (1)(a) to:
(i) the Income Tax Fund; and
(ii) the Uniform School Fund in accordance with Section 53F-9-201.1.
(c) The commission may credit to or draw from the Income Tax Fund and the Uniform School Fund:
(i) annually to adjust for differences between estimates and actual amounts; or
(ii) in the proportion described in Subsection (1)(b) to issue a refund.
(2) The commission shall from time to time certify to the state auditor the amount of any refund authorized by it, the amount of interest computed on it under the provisions of Section 59-7-533, from whom the tax to be refunded was collected, or by whom it was paid, and such refund claims shall be paid in order out of the funds first accruing to the Income Tax Fund from the provisions of this section.
Amended by Chapter 456, 2022 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 5 - Procedures and Administration › Section 533 - Interest on overpayments.

59-7-533.
Interest on overpayments.
Interest shall be allowed and paid upon any overpayment in respect of any tax imposed by this chapter 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 7 - Corporate Franchise and Income Taxes › Part 5 - Procedures and Administration › Section 534 - Failure to pay tax -- Suspension or forfeiture of corporate rights.

59-7-534.
Failure to pay tax -- Suspension or forfeiture of corporate rights.
(1) If a tax computed and levied under this chapter is not paid before 5 p.m. on the last day of the 11th month after the date of delinquency, the corporate powers, rights, and privileges of the delinquent taxpayer, if it is a domestic corporation, shall be suspended, and if a foreign corporation, it shall forfeit its rights to do intrastate business in this state.
(2) The commission shall transmit the name of each such corporation to the Division of Corporations and Commercial Code, which shall immediately record the same in such manner that it may be available to the public. This suspension or forfeiture shall become effective from the time such record is made, and the certificate of the Division of Corporations and Commercial Code shall be prima facie evidence of such suspension or forfeiture.
Renumbered and Amended by Chapter 169, 1993 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 5 - Procedures and Administration › Section 535 - Doing business after suspension or forfeiture of certain corporate powers, rights, and privileges -- Penalty.

59-7-535.
Doing business after suspension or forfeiture of certain corporate powers, rights, and privileges -- Penalty.
(1) A person is guilty of a class B misdemeanor if:
(a) the person's corporate powers, rights, and privileges have been suspended in accordance with Section 59-7-534; and
(b) the person:
(i) attempts or purports to exercise any of the rights, privileges, or powers of a suspended domestic corporation; or
(ii) transacts or attempts to transact any intrastate business in this state in behalf of a forfeited foreign corporation.
(2) Jurisdiction of the offense shall be in any county in which any part of an action described in Subsection (1)(b) occurred.
(3) Any contract made in violation of this section is unenforceable by a corporation or person described in Subsection (1).
Amended by Chapter 120, 2013 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 5 - Procedures and Administration › Section 536 - Relief in case of suspension or forfeiture.

59-7-536.
Relief in case of suspension or forfeiture.
(1)
(a) Any corporation which has suffered the suspension or forfeiture referred to in Section 59-7-534 may be relieved from that suspension or forfeiture by applying for that relief in writing, paying the tax and the interest and penalties for nonpayment of which the suspension or forfeiture occurred, and paying a reinstatement fee of $100. If the corporation has done business in this state during the period of such suspension, a tax shall be computed according to this chapter for each year in which the business was done, and the tax shall be added to the delinquency and penalties provided in this section. If the due date of any return required in this section has not passed, a return need not be filed until that due date.
(b) Application for revivor may be made by any stockholder or creditor of the corporation or by a majority of the surviving trustees or directors, and the same shall be filed with the Division of Corporations and Commercial Code. Upon payment to the commission of the taxes, penalties, and reinstatement fee provided for in this section, the Division of Corporations and Commercial Code shall issue a certificate of revivor, and the applicant shall be revived. The revivor shall be without prejudice to any action, defense, or right which has accrued by reason of the original suspension or forfeiture. The certificate of revivor is prima facie evidence of the revivor.
(2) If any corporation has adopted, subsequent to such suspension or forfeiture, any name so closely resembling the name of the reviving corporation as will tend to deceive, then the reviving corporation is entitled to a certificate of revivor pursuant to the terms of this section only upon adopting a new name, and in such case nothing in this section may be construed as permitting the reviving corporation to carry on any business under its former name. The reviving corporation may use its former name or may take the new name only upon filing an application for it with the Division of Corporations and Commercial Code, and upon the issuing of a certificate to such corporation by the Division of Corporations and Commercial Code, setting forth the right of such corporation to take such new name or use its former name as the case may be. The Division of Corporations and Commercial Code may not issue any certificate permitting any corporation to take or use the name of any corporation already organized in this state and which has not suffered a forfeiture, or take or use a name so closely resembling the name of any corporation already organized in this state as will tend to deceive.
Renumbered and Amended by Chapter 169, 1993 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 5 - Procedures and Administration › Section 537 - Confidentiality of information.

59-7-537.
Confidentiality of information.
The confidentiality of returns and other information filed with the commission shall be governed by Section 59-1-403.
Renumbered and Amended by Chapter 169, 1993 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 5 - Procedures and Administration › Section 538 - Carry forward of expired or repealed tax credit.

Effective 3/23/2022
59-7-538.
Carry forward of expired or repealed tax credit.
When a nonrefundable corporate income tax credit under Part 6, Credits, expires or is repealed, the commission shall allow a taxpayer to carry forward any amount of the tax credit that remains for the period of time described in the tax credit for the taxable year in which the taxpayer first claimed the tax credit.
Enacted by Chapter 258, 2022 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 6 - Credits › Section 601 - Credit of interest income from state and federal securities.

59-7-601.
Credit of interest income from state and federal securities.
(1) There shall be allowed as a credit against the tax an amount equal to 1% of the gross interest income included in state taxable income from:
(a) bonds, notes, or other evidences of indebtedness issued by the state and its agencies and instrumentalities, and bonds, notes, or other evidences of indebtedness of any political subdivision as described in Section 11-14-303; and
(b) stocks, notes, or obligations issued by, or guaranteed by the United States Government, or any of its agencies and instrumentalities as defined under federal law.
(2) Amounts otherwise qualifying for the credit, but not allowable because the credit exceeds the tax, may be carried back three years or may be carried forward five years as a credit against the tax. Such carryover credits shall be applied against the tax before the application of the credits earned in the current year and on a first-earned first-used basis.
Amended by Chapter 105, 2005 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 6 - Credits › Section 606 - Tax credit -- Items using cleaner burning fuels.

59-7-606.
Tax credit -- Items using cleaner burning fuels.
(1) As used in this section, "board" means the Air Quality Board created under Title 19, Chapter 2, Air Conservation Act.
(2) For taxable years beginning on or after January 1, 1992, but prior to January 1, 2003, there is allowed a tax credit against tax otherwise due under this chapter in an amount equal to 10%, up to a maximum of $50, of the total of both the purchase cost and installation services cost of each pellet burning stove, high mass wood stove, and solid fuel burning device purchased and installed that is certified by the federal Environmental Protection Agency in accordance with test procedures prescribed in 40 C.F.R. Sec. 60.534, including purchase cost and installation service cost of natural gas or propane free standing fireplaces or inserts, but not including fireplace logs.
(3) A taxpayer shall provide proof of the purchase of an item for which a tax credit is allowed under this section by:
(a) providing proof to the board in the form the board requires by rule;
(b) receiving a written statement from the board acknowledging receipt of the proof; and
(c) retaining the written statement described in Subsection (3)(b).
(4) The tax credit under this section is allowed only:
(a) against any Utah tax owed in the taxable year by the taxpayer; and
(b) for the taxable year in which the item is purchased for which the tax credit is claimed.
Amended by Chapter 198, 2003 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 6 - Credits › Section 609 - Historic preservation credit.

Effective 7/1/2023
59-7-609.
Historic preservation credit.
(1)
(a) For tax years beginning January 1, 1993, and thereafter, there is allowed to a taxpayer subject to Section 59-7-104, as a credit against the tax due, an amount equal to 20% of qualified rehabilitation expenditures, costing more than $10,000, incurred in connection with any residential certified historic building. When qualifying expenditures of more than $10,000 are incurred, the credit allowed by this section shall apply to the full amount of expenditures.
(b) All rehabilitation work to which the credit may be applied shall be approved by the State Historic Preservation Office prior to completion of the rehabilitation project as meeting the Secretary of the Interior's Standards for Rehabilitation so that the office can provide corrective comments to the taxpayer in order to preserve the historical qualities of the building.
(c) Any amount of credit remaining may be carried forward to each of the five taxable years following the qualified expenditures.
(d) The commission, in consultation with the State Historic Preservation Office, shall promulgate rules to implement this section.
(2) As used in this section:
(a) "Certified historic building" means a building that is listed on the National Register of Historic Places within three years of taking the credit under this section or that is located in a National Register Historic District and the building has been designated by the State Historic Preservation Office as being of significance to the district.
(b)
(i) "Qualified rehabilitation expenditures" means any amount properly chargeable to the rehabilitation and restoration of the physical elements of the building, including the historic decorative elements, and the upgrading of the structural, mechanical, electrical, and plumbing systems to applicable codes.
(ii) "Qualified rehabilitation expenditures" does not include expenditures related to:
(A) the taxpayer's personal labor;
(B) cost of acquisition of the property;
(C) any expenditure attributable to the enlargement of an existing building;
(D) rehabilitation of a certified historic building without the approval required in Subsection (1)(b); or
(E) any expenditure attributable to landscaping and other site features, outbuildings, garages, and related features.
(c) "Residential" means a building used for residential use, either owner occupied or income producing.
Amended by Chapter 160, 2023 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 6 - Credits › Section 614.1 - Refundable tax credit for hand tools used in farming operations -- Procedures for refund -- Transfers from General Fund to Income Tax Fund -- Rulemaking authority.

Effective 3/24/2022
59-7-614.1.
Refundable tax credit for hand tools used in farming operations -- Procedures for refund -- Transfers from General Fund to Income Tax Fund -- Rulemaking authority.
(1) For a taxable year beginning on or after January 1, 2004, a taxpayer may claim a refundable tax credit:
(a) as provided in this section;
(b) against taxes otherwise due under this chapter; and
(c) in an amount equal to the amount of tax the taxpayer pays:
(i) on a purchase of a hand tool:
(A) if the purchase is made on or after July 1, 2004;
(B) if the hand tool is used or consumed primarily and directly in a farming operation in the state; and
(C) if the unit purchase price of the hand tool is more than $250; and
(ii) under Chapter 12, Sales and Use Tax Act, on the purchase described in Subsection (1)(c)(i).
(2) A taxpayer:
(a) shall retain the following to establish the amount of tax the resident or nonresident individual paid under Chapter 12, Sales and Use Tax Act, on the purchase described in Subsection (1)(c)(i):
(i) a receipt;
(ii) an invoice; or
(iii) a document similar to a document described in Subsection (2)(a)(i) or (ii); and
(b) may not carry forward or carry back a tax credit under this section.
(3)
(a) In accordance with any rules prescribed by the commission under Subsection (3)(b):
(i) the commission shall make a refund to a taxpayer that claims a tax credit under this section if the amount of the tax credit exceeds the taxpayer's tax liability under this chapter; and
(ii) the Division of Finance shall transfer at least annually from the General Fund into the Income Tax Fund an amount equal to the amount of tax credit claimed under this section.
(b) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commission may make rules providing procedures for making:
(i) a refund to a taxpayer as required by Subsection (3)(a)(i); or
(ii) transfers from the General Fund into the Income Tax Fund as required by Subsection (3)(a)(ii).
Amended by Chapter 456, 2022 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 6 - Credits › Section 614.4 - Tax credit for pass-through entity taxpayer.

59-7-614.4.
Tax credit for pass-through entity taxpayer.
(1) As used in this section:
(a) "Pass-through entity" is as defined in Section 59-10-1402.
(b) "Pass-through entity taxpayer" is as defined in Section 59-10-1402.
(2) A pass-through entity taxpayer may claim a refundable tax credit against the tax otherwise due under this chapter.
(3) The tax credit described in Subsection (2) is equal to the amount paid or withheld by the pass-through entity on behalf of the pass-through entity taxpayer described in Subsection (2) in accordance with Section 59-10-1403.2.
(4) A pass-through entity taxpayer may not claim a tax credit under this section for an amount for which the pass-through entity taxpayer claims a tax credit under Section 59-10-1103.
Enacted by Chapter 312, 2009 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 6 - Credits › Section 621 - Nonrefundable rural job creation tax credit.

Effective 5/4/2022
59-7-621.
Nonrefundable rural job creation tax credit.
(1) As used in this section, "office" means the Governor's Office of Economic Opportunity created in Section 63N-1a-301.
(2) Subject to the other provisions of this section, a taxpayer may claim a nonrefundable tax credit for rural job creation as provided in this section.
(3) The tax credit under this section is the amount listed as the tax credit amount on a tax credit certificate that the office issues under Title 63N, Chapter 4, Part 3, Utah Rural Jobs Act, to the taxpayer for the taxable year.
(4) If the amount of a tax credit under this section exceeds the taxpayer's tax liability under this chapter for the taxable year in which the taxpayer claims the tax credit, the taxpayer may carry forward the tax credit for:
(a) the next seven taxable years, if the credit-eligible contribution as defined in Section 63N-4-302 is made before November 1, 2022; or
(b) the next four taxable years, if the credit-eligible contribution as defined in Section 63N-4-302 is made on or after November 1, 2022.
Amended by Chapter 195, 2022 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 6 - Credits › Section 623 - Nonrefundable guaranty association assessment tax credit.

Effective 1/1/2019
59-7-623.
Nonrefundable guaranty association assessment tax credit.
(1) As used in this section:
(a) "Guaranty association assessment" means the amount of any assessments paid by a qualified insurer under the guaranty association established under Title 31A, Chapter 28, Part 1, Utah Life and Health Insurance Guaranty Association Act, in the manner provided by Section 31A-28-113.
(b) "Qualified insurer" means an insurer, as defined in Section 31A-1-301, that is not subject to the premium tax on health care insurance under Section 59-9-101.
(2) For a taxable year beginning on or after January 1, 2019, a qualified insurer may claim a nonrefundable tax credit equal to 20% of the assessment for each of the five years following the year the qualified insurer pays a guaranty association assessment, in accordance with Section 31A-28-113.
(3)
(a) A qualified insurer may carry forward the portion of the tax credit that exceeds the qualified insurer's tax liability for the taxable year in accordance with Section 31A-28-113.
(b) A qualified insurer may not carry back the portion of the tax credit that exceeds the qualified insurer's tax liability for the taxable year.
Enacted by Chapter 391, 2018 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 6 - Credits › Section 624 - Targeted business income tax credit.

Affected by 63I-2-259 on 12/31/2024
Effective 5/4/2022
59-7-624.
Targeted business income tax credit.
(1) As used in this section, "business applicant" means the same as that term is defined in Section 63N-2-302.
(2) For a taxable year that begins before January 1, 2023, a business applicant that is certified and issued a targeted business income tax eligibility certificate by the Governor's Office of Economic Opportunity under Section 63N-2-304 may claim a refundable tax credit in the amount specified on the targeted business income tax eligibility certificate.
(3) For a taxable year for which a business applicant claims a targeted business income tax credit under this section, the business applicant may not claim or carry forward a tax credit under Section 59-7-610, Section 59-10-1007, or Title 63N, Chapter 2, Part 2, Enterprise Zone Act.
Amended by Chapter 264, 2022 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 6 - Credits › Section 625 - Nonrefundable tax credit for donation to Special Needs Opportunity Scholarship Program.

Effective 5/4/2022
59-7-625.
Nonrefundable tax credit for donation to Special Needs Opportunity Scholarship Program.
(1) A taxpayer that makes a donation to the Special Needs Opportunity Scholarship Program established in Section 53E-7-402 may claim a nonrefundable tax credit equal to 100% of the amount stated on a tax credit certificate issued in accordance with Section 53E-7-407.
(2) If the amount of a tax credit listed on the tax credit certificate exceeds a taxpayer's liability under this chapter for a taxable year, the taxpayer:
(a) may carry forward the amount of the tax credit exceeding the liability for a period that does not exceed the next three taxable years; and
(b) may carry back the amount of the tax credit that exceeds the taxpayer's tax liability to the previous taxable year.
Amended by Chapter 262, 2022 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 7 - S Corporations › Section 701 - Taxation of S corporations.

Effective 5/10/2016
59-7-701.
Taxation of S corporations.
(1) Except as provided in Section 59-7-102 and subject to the other provisions of this part, beginning on July 1, 1994, and ending on the last day of the taxable year that begins on or after January 1, 2012, but begins on or before December 31, 2012, an S corporation is subject to taxation in the same manner as that S corporation is taxed under Subchapter S - Tax Treatment of S Corporations and Their Shareholders, Sec. 1361 et seq., Internal Revenue Code.
(2) An S corporation is taxed at the tax rate provided in Section 59-7-104.
(3) The business income and nonbusiness income of an S corporation is subject to Part 3, Allocation and Apportionment of Income - Utah UDITPA Provisions.
(4) An S corporation having income derived from or connected with Utah sources shall make a return in accordance with Sections 59-10-507 and 59-10-514.
(5) An S corporation shall make payments of estimated tax as required by Section 59-7-504.
(6) An S corporation is subject to Chapter 10, Part 14, Pass-Through Entities and Pass-Through Entity Taxpayers Act.
(7) A pass-through entity taxpayer as defined in Section 59-10-1402 of an S corporation is subject to Chapter 10, Part 14, Pass-Through Entities and Pass-Through Entity Taxpayers Act.
(8) Provisions under this chapter governing the following apply to an S corporation:
(a) an assessment;
(b) a penalty;
(c) a refund; or
(d) a record required for an S corporation.
Amended by Chapter 87, 2016 General Session
Amended by Chapter 135, 2016 General Session
Amended by Chapter 222, 2016 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 7 - S Corporations › Section 705 - Minimum tax not applicable to an S corporation.

59-7-705.
Minimum tax not applicable to an S corporation.
The minimum tax provided in Section 59-7-104 does not apply to an S corporation subject to taxation under Section 59-7-701.
Amended by Chapter 312, 2009 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 7 - S Corporations › Section 706 - Distribution and credit of revenues.

59-7-706.
Distribution and credit of revenues.
Revenues collected or received by the commission under this part shall be deposited daily with the state treasurer and distributed and credited as provided in Section 59-10-544.
Amended by Chapter 312, 2009 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 7 - S Corporations › Section 707 - Commission rulemaking authority.

59-7-707.
Commission rulemaking authority.
In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commission may make rules to implement this part.
Amended by Chapter 312, 2009 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 8 - Unrelated Business Income › Section 801 - Definitions.

59-7-801.
Definitions.
For purposes of this part:
(1) "Unrelated business income" means unrelated business income as determined under Section 512, Internal Revenue Code.
(2) "Utah unrelated business income" means the unrelated business income apportioned to Utah in accordance with Part 3, Allocation and Apportionment of Income - Utah UDITPA Provisions.
Amended by Chapter 225, 2005 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 8 - Unrelated Business Income › Section 802 - Taxation of unrelated business income.

59-7-802.
Taxation of unrelated business income.
(1) An organization which is exempt from taxation as provided in Subsection 59-7-102(1) or Section 59-10-126 shall be subject to the tax imposed by this part on its Utah unrelated business income.
(2) Utah unrelated business income shall be taxed at the rate provided in Section 59-7-104 except that the minimum tax does not apply to organizations subject to the tax under this part.
Amended by Chapter 311, 1995 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 8 - Unrelated Business Income › Section 803 - Filing returns -- Extension.

59-7-803.
Filing returns -- Extension.
(1) An organization subject to the tax imposed by this part shall file a state return on or before the date which the exempt organization is required to file its federal exempt organization business income tax return, including extensions.
(2) If a valid federal extension is filed, the extension shall be considered valid for state purposes and payment of tax shall be made as provided in Section 59-7-507.
Amended by Chapter 311, 1995 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 8 - Unrelated Business Income › Section 804 - Transition rule -- Net loss carryforwards.

59-7-804.
Transition rule -- Net loss carryforwards.
Net operating losses shall be recognized to the extent recognized for federal purposes even if incurred prior to the effective date of this part.
Enacted by Chapter 178, 1994 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 8 - Unrelated Business Income › Section 805 - Apportionment provisions.

59-7-805.
Apportionment provisions.
For purposes of this part, only the property, payroll, and sales included in the computation of unrelated business income or directly related to the unrelated business income of an exempt organization shall be included when apportioning income under Part 3, Allocation and Apportionment of Income - Utah UDITPA Provisions.
Enacted by Chapter 178, 1994 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 9 - Tax Credit Administration Act › Section 902 - Definitions.

Effective 1/1/2015
59-7-902.
Definitions.
As used in this part:
(1) "Tax credit" means a nonrefundable tax credit listed on a tax return.
(2) "Tax return" means:
(a) a corporate return as defined in Section 59-7-101 filed in accordance with this chapter; or
(b) a tax return filed in accordance with Chapter 8, Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act.
Enacted by Chapter 315, 2014 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 7 - Corporate Franchise and Income Taxes › Part 9 - Tax Credit Administration Act › Section 903 - Removal of tax credit from tax return -- Prohibition on claiming a tax credit -- Commission publishing requirements.

Effective 5/10/2016
59-7-903.
Removal of tax credit from tax return -- Prohibition on claiming a tax credit -- Commission publishing requirements.
(1) Subject to Subsection (2) and except as provided in Subsection (3), the commission shall remove a tax credit from a tax return and a person filing a tax return may not claim the tax credit if:
(a) the total amount of tax credit claimed or carried forward by all persons who file a tax return is less than $10,000 per taxable year for three consecutive taxable years; and
(b) less than 10 persons per year for the three consecutive taxable years described in Subsection (1)(a) file a tax return claiming or carrying forward the tax credit.
(2) If the commission determines the requirements of Subsection (1) are met, the commission shall remove a tax credit from a tax return and a person filing a tax return may not claim the tax credit beginning two taxable years after the January 1 immediately following the date the commission determines the requirements of Subsection (1) are met.
(3) This section does not apply to a tax credit under Section 59-7-609.
(4) The commission shall, on or before the November interim meeting of the year after the taxable year in which the commission determines the requirements of Subsection (1) are met, report to the Revenue and Taxation Interim Committee by electronic means that, in accordance with this section:
(a) the commission is required to remove a tax credit from a return on which the tax credit appears; and
(b) a person filing a tax return may not claim the tax credit.
(5)
(a) Within a 30-day period after making the report required by Subsection (4), the commission shall publish a list in accordance with Subsection (5)(b) stating each tax credit that the commission will remove from a return on which the tax credit appears.
(b) The list shall:
(i) be published on:
(A) the commission's website; and
(B) the public legal notice website in accordance with Section 45-1-101;
(ii) include a statement that:
(A) the commission is required to remove the tax credit from each return on which the tax credit appears; and
(B) the tax credit may not be claimed on a return;
(iii) state the taxable year for which the removal described in Subsection (5)(a) takes effect; and
(iv) remain available for viewing and searching until the commission publishes a new list in accordance with this Subsection (5).
Amended by Chapter 64, 2016 General Session
Amended by Chapter 135, 2016 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 8 - Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act › Section 101 - Title.

59-8-101.
Title.
This chapter is known as the "Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act."
Amended by Chapter 278, 1995 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 8 - Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act › Section 102 - Purpose.

59-8-102.
Purpose.
The purpose of this chapter is to provide for the imposition of an in lieu excise tax on the gross receipts of corporations, other than those described in Subsection 59-7-102(3), eleemosynary, religious, or charitable institutions, operating in this state who are not otherwise required to pay income or franchise taxes to the state or to declare dividends.
Amended by Chapter 311, 1995 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 8 - Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act › Section 103 - Definitions.

59-8-103.
Definitions.
As used in this chapter:
(1) "Corporation" means:
(a) any domestic corporation organized under Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act;
(b) any foreign corporation engaged in business in this state under Sections 16-6a-1501 through 16-6a-1518;
(c) any project entity defined in Section 11-13-103; or
(d) a public agency, as defined in Section 11-13-103, to the extent it owns an interest in facilities providing additional project capacity, as defined in Section 11-13-103.
(2) "Engaging in business" means carrying on or causing to be carried on any activity through which goods or services are made or rendered by the taxpayer, except as provided in Section 59-7-102.
(3) "Gross receipts" means the totality of the consideration that the taxpayer receives for any good or service produced or rendered in the state without any deduction or expense paid or accrued in respect to it.
(4) "Taxpayer" means any corporation, other than an eleemosynary, religious, or charitable institution, any insurance company, credit union, or Subchapter S organization, any nonprofit hospital, educational, welfare, or employee representation organization, or any mutual benefit association engaged in business in the state that is not otherwise required to pay income or franchise tax to the state under Title 59, Chapter 7, Corporate Franchise and Income Taxes.
Amended by Chapter 286, 2002 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 8 - Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act › Section 104 - Rate -- Change of rate.

59-8-104.
Rate -- Change of rate.
(1) Beginning on or after July 1, 2006, and subject to Section 11-13-303, an in lieu excise tax is imposed on the gross receipts of a taxpayer engaging in business in the state of Utah in each taxable year as follows:
Gross Receipts AmountRate of Tax
Not in excess of $10,000,000None
In excess of $10,000,000 but not
in excess of $500,000,000
.6250%
In excess of $500,000,000 but not
in excess of $1,000,000,000
.9375%
In excess of $1,000,000,0001.2500%
(2) It is the intent of the Legislature that, as a result of the tax rate decrease provided in Section 59-8-104 of Chapter 221, Laws of Utah 2006, all or a portion of any cost decrease received by a taxpayer as a result of the tax rate decrease be used in whole or in part for expenditures, scholarships, or grants that will benefit the citizens of this state.
Amended by Chapter 221, 2006 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 8 - Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act › Section 105 - Time for filing of return -- Other applicable provisions.

59-8-105.
Time for filing of return -- Other applicable provisions.
(1) Each taxpayer upon whom a gross receipts tax is imposed under this chapter shall file a return with and pay the tax reflected in the return to the commission semiannually on or before the last day of July and January.
(2) All other provisions applicable to the gross receipts tax imposed under this chapter shall be the appropriate provisions provided for in Title 59, Chapter 7, Corporate Franchise and Income Taxes, applied as if the taxpayer under this chapter is a bank or other corporation subject to Title 59, Chapter 7, Corporate Franchise and Income Taxes.
Amended by Chapter 278, 1995 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 8 - Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act › Section 106 - Rulemaking authority.

59-8-106.
Rulemaking authority.
The commission is charged with the administration and enforcement of this chapter and may promulgate such rules under Title 63G, Chapter 3, Utah Administrative Rulemaking Act, as may be required to effectuate the purposes of this chapter.
Amended by Chapter 382, 2008 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 9 - Taxation of Admitted Insurers › Section 102 - Offsets.

59-9-102.
Offsets.
(1) If any authorized insurer doing business in this state during the tax year pays a property tax in this state, the insurer may deduct from the tax provided under this chapter that portion of the property tax paid for general state purposes.
(2) Any domestic insurance company paying a fee for examination under Section 31A-2-205 may deduct from the tax provided under this chapter the amount of the examination fee paid, subject to the limitations of Subsection 31A-2-203(2)(e).
(3) There is offset against the taxes imposed under Section 59-9-101 the amount of any assessments paid by an insurance company under the guaranty associations established under Title 31A, Chapter 28, Guaranty Associations, in the manner provided by Sections 31A-28-113 and 31A-28-212.
(4) There is an offset provided in Section 59-9-102.5 against the premium assessment imposed under Subsection 59-9-101(2) against an admitted insurer writing workers' compensation insurance in this state.
(5) The state has no liability to insurers for any amount by which offsets allowed under this section exceed the insurer's premium tax liability.
Amended by Chapter 177, 2006 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 9 - Taxation of Admitted Insurers › Section 102.5 - Offset for occupational health and safety related donations.

Affected by 63I-1-259 on 12/31/2030
Effective 5/4/2022
59-9-102.5.
Offset for occupational health and safety related donations.
(1) As used in this section:
(a) "Occupational health and safety center" means the Rocky Mountain Center for Occupational and Environmental Health created in Title 53B, Chapter 30, Part 2, Rocky Mountain Center for Occupational and Environmental Health.
(b) "Qualified donation" means a donation that is:
(i) cash;
(ii) given directly to an occupational health and safety center; and
(iii) given exclusively for the purpose of:
(A) supporting undergraduate or graduate level education and training in fields of:
(I) safety and ergonomics;
(II) industrial hygiene;
(III) occupational health nursing;
(IV) occupational injury prevention; and
(V) occupational medicine;
(B) providing continuing education programs for employers designed to promote workplace safety; and
(C) paying reasonable administrative, personnel, equipment, and overhead costs of the occupational health and safety center.
(c) "Workers' compensation insurer" means an admitted insurer writing workers' compensation insurance in this state that is required to pay the premium assessment imposed under Subsection 59-9-101(2).
(2)
(a) A workers' compensation insurer may offset against the premium assessment imposed under Subsection 59-9-101(2) an amount equal to the lesser of:
(i) the total of qualified donations made by the workers' compensation insurer in the calendar year for which the premium assessment is calculated; and
(ii) .20% of the workers' compensation insurer's total workers' compensation premium income as defined in Subsection 59-9-101(2)(b) in the calendar year for which the premium assessment is calculated.
(b) The offset provided under this Subsection (2) shall be allocated in proportion to the percentages provided in Subsection 59-9-101(2)(c).
(3) An occupational health and safety center shall:
(a) provide a workers' compensation insurer a receipt for any qualified donation made by the workers' compensation insurer to the occupational health and safety center;
(b) expend money received by a qualified donation:
(i) for the purposes described in Subsection (1)(b)(iii); and
(ii) in a manner that can be audited to ensure that the money is expended for the purposes described in Subsection (1)(b)(iii); and
(c) in conjunction with the report required by Section 34A-2-202.5, report to the Office of the Legislative Fiscal Analyst for review by the Higher Education Appropriations Subcommittee by no later than August 15 of each year:
(i) the qualified donations received by the occupational health and safety center in the previous calendar year; and
(ii) the expenditures during the previous calendar year of qualified donations received by the occupational health and safety center.
Amended by Chapter 477, 2022 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 9 - Taxation of Admitted Insurers › Section 103 - Taxation of insurers otherwise untaxed.

59-9-103.
Taxation of insurers otherwise untaxed.
(1) As used in this section:
(a) "Administrative and claims expense" includes all claims paid, agency expenses, third party administrator expenses, taxes, licenses, fees, loss adjustment expenses, legal expenses, reinsurance premiums, and all other expenses incurred directly in connection with the insurance of Utah risks by the insurer, less any recoveries or reimbursements collected or collectible because of reinsurance or any other source, but only with respect to Utah risks. The administrative and claims expense also includes the pro rata portion attributable to Utah risks of the salaries and fringe benefits, including taxes on salaries, of all personnel responsible for the administration of the insurer, the printing and stationery, and all other expenses attributable to the administration of the insurer. When personnel are engaged in the administration of the insurer as only part of their employment, for purposes of this section their salaries and fringe benefits shall be prorated based on the portion of their time devoted to the administration of the insurer. Appropriate overhead charges shall be included with all the expenses listed in this subsection.
(b) "Utah risks" means insurance coverage on the lives, health, or against the liability of persons residing in Utah, or on property located in Utah, other than property temporarily in transit through Utah.
(2) Except for workers' compensation coverage, which is provided in Subsection (3), and except as provided under Subsection (4), every insurer which provides insurance on Utah risks shall pay to the commission, on or before March 31 of each year, a tax of 2-1/4% of the total administrative and claims expense incurred during the prior calendar year by the insurer. This tax shall be deposited in the General Fund.
(3) Except as provided under Subsection (4), every insurer which provides workers' compensation coverage on persons employed in Utah shall pay to the commission on or before March 31 of each year a tax of 3-1/4% of the total administrative and claims expense incurred during the prior year by the insurer. This tax shall be distributed in the same manner as under Subsection 59-9-101(2).
(4) The taxes imposed under Subsections (2) and (3) do not apply to:
(a) admitted insurers;
(b) insurers taxed under Section 31A-3-301;
(c) self insurers;
(d) annuity considerations or ocean marine insurance; or
(e) a public agency insurance mutual as defined in Section 31A-1-103.
Amended by Chapter 71, 2002 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 9 - Taxation of Admitted Insurers › Section 104 - Installment payments -- Penalty.

59-9-104.
Installment payments -- Penalty.
(1) A person whose total tax obligation under this chapter for the preceding taxable year was $10,000 or more shall pay the taxes levied under this chapter in quarterly installments. Each installment shall be based on the estimated insurance premiums received, or for the taxes imposed under Section 59-9-103, upon the estimated total administrative and claims expense incurred during the calendar quarter preceding the date on which that quarterly installment is due. The installments are due on or before April 30, July 31, October 31, and March 31. To the extent installment payments result in an overpayment of the tax obligation under this chapter, the overpayment shall be promptly refunded.
(2) If an installment is not paid or is underpaid, except as provided in Subsection (3), there shall be added a penalty at the rate and in the manner prescribed in Section 59-1-401. The amount of the underpayment is the excess of 80% of the installment shown to be due by an audit of the taxpayer's records over the amount, if any, of the installment paid on or before the last date prescribed for the payment. The taxpayer shall pay the cost of the audit, if any.
(3) No penalty, interest, or audit charge may be assessed under Subsection (2) if the taxpayer pays, for any installment required by this section, at least 27% of the annual tax reported on its annual statement for the preceding taxable year.
(4) There shall be no interest added to any estimated tax payments subject to a penalty under this section.
Amended by Chapter 205, 1995 General Session
2023 Utah Code › Title 59 - Revenue and Taxation › Chapter 9 - Taxation of Admitted Insurers › Section 105 - Tax on certain insurers to pay for relative value study and other publications or services.

59-9-105.
Tax on certain insurers to pay for relative value study and other publications or services.
(1) An insurer that provides coverage for motor vehicle liability, uninsured motorist, and personal injury protection shall pay to the State Tax Commission on or before March 31 of each year, a tax of .01% on the total premiums received for these coverages during the preceding calendar year from policies covering motor vehicle risks in this state.
(2) The taxable premium under this section shall be reduced by the premiums returned or credited to policyholders on direct business subject to tax in this state.
(3) Money received by the state under this section shall be deposited into the Relative Value Study Restricted Account created in Subsection (4).
(4)
(a) There is created in the General Fund a restricted account known as the "Relative Value Study Restricted Account."
(b) The Relative Value Study Restricted Account shall consist of the money received by the insurance commissioner under:
(i) Section 31A-2-208; and
(ii) this section.
(c) The insurance commissioner shall administer the Relative Value Study Restricted Account. Subject to appropriations by the Legislature, the insurance commissioner shall use the money deposited into the Relative Value Study Restricted Account to pay for costs and expenses incurred by the insurance commissioner:
(i) in conducting, maintaining, and administering the relative value study referred to in Section 31A-22-307;
(ii) to prepare, publish, and distribute publications relating to insurance and consumers of insurance as provided in Section 31A-2-208; and
(iii) in providing the services of the insurance commissioner through the use of:
(A) electronic commerce; and
(B) other information technology.
Amended by Chapter 284, 2011 General Session