S.B. 31
         INCOME TAX AMENDMENTS

senate committee Amendments

Amendment 1 January 22, 2008 3:26 pm



Senator Wayne L. Niederhauser proposes the following amendments:

1.    Page 1, Lines 26 through 27 :    

             26              .    addressing provisions relating to the determination and reporting of income tax
             27      liability and information;
  . addresses the apportionment of business income for purposes of the individual income tax;      


2.    Page 50, Lines 1529 through 1538 :    

             1529          59-10-121. Proration when two returns required.
             1530          
{   [   }      {   Where two returns are required to be filed as provided in   }        If an individual is required to file two returns for a taxable year under       Section 59-10-120 :

             1531          (1) personal exemptions and the standard deduction as used on the federal
  individual income tax       return shall

             1532      be prorated between the two returns, under rules prescribed by the commission
  in accordance with Title 63, Chapter 46a, Utah Administrative Rulemaking Act       , to reflect the

             1533      proportions of the taxable year during which the individual was a resident and a nonresident;
             1534      and
             1535          (2)
{   ]   }      {   If, for purposes of Section 59-10-120 , an individual is required to file two returns

             1536      for a taxable year,   } the total amount of the taxes due [thereon shall] on the two returns may not
             1537      be less than the total amount of the taxes that would be due if the total of the taxable incomes
             1538      reported on the two returns [were includable] had been included in one return.

3.    Page 74, Lines 2265 through 2276 :    

             2265          (2) An estate or trust may not carry forward or carry back a tax credit under this
             2266      section.
    
  (3) The tax credit allowed by Subsection (1) shall be reduced by $.013 for each dollar by which an estate's or trust's state taxable income exceeds $12,000.      

             2267          
{   (3)   }        (4)       In accordance with Title 63, Chapter 46a, Utah Administrative Rulemaking Act:

             2268          (a) for purposes of Subsection (1)(a)(iv), the commission may make rules for
             2269      determining what constitutes an attorney, accountant, or return preparer fee if that attorney,
             2270      accountant, or return preparer fee is consistent with an attorney, accountant, or return preparer
             2271      fee that may be deducted on a federal income tax return for estates and trusts; or
             2272          (b) for purposes of Subsection (1)(a)(v), the commission may make rules for
             2273      determining what constitutes an other deduction or miscellaneous itemized deduction if that

             2274      other deduction or miscellaneous itemized deduction is consistent with an other deduction or
             2275      miscellaneous itemized deduction that may be deducted on a federal income tax return for
             2276      estates and trusts.

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