Utah Code -- Title 59 -- Chapter 07 -- Corporate Franchise and Income Taxes

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Updated: 11 January 2012

59-7-101    Definitions.

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59-7-102    Exemptions.

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59-7-103    Chapter applicable to receivers, trustees in bankruptcy and assignees.

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59-7-104    Tax -- Minimum tax.

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59-7-105    Additions to unadjusted income.

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59-7-106    Subtractions from unadjusted income.

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59-7-107    Basis.

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59-7-108    Distributions by corporations.

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59-7-109    Charitable contributions.

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59-7-110    Utah net losses -- Carryforwards and carrybacks -- Deduction.

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59-7-111    Safe harbor lease provisions.

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59-7-112    Installment sales.

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59-7-113    Allocation of income and deductions between several corporations controlled by same interests.

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59-7-114    Section 338, Internal Revenue Code -- Elections.

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59-7-115    Section 336(e), Internal Revenue Code -- Elections.

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59-7-116    Taxation of regulated investment companies.

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59-7-116.5    Real estate investment trusts.

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59-7-117    Equitable adjustments.

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59-7-201    Tax -- Minimum tax.

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59-7-203    Computation of Utah taxable income.

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59-7-204    Income attributed to sources within the state.

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59-7-205    Applicability of Parts 5 and 6 of chapter.

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59-7-206    Offsets against tax.

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59-7-207    Corporations becoming subject to tax -- Assessment under other sections.

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59-7-208    Provisions followed for purposes of tax collected.

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59-7-302    Definitions -- Determination of when a taxpayer is considered to be a sales factor weighted taxpayer.

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59-7-303    Apportionable income.

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59-7-305    When taxable in another state.

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59-7-306    Allocation of certain nonbusiness income.

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59-7-307    Allocation of rents and royalties.

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59-7-308    Allocation of capital gains and losses.

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59-7-309    Allocation of interest and dividends.

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59-7-310    Allocation of patent and copyright royalties.

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59-7-311    Method of apportionment of business income.

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59-7-312    Property factor for apportionment of business income -- Mobile flight equipment of an airline.

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59-7-313    Valuation of property for inclusion in property factor.

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59-7-314    Averaging property values for inclusion in property factors.

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59-7-315    Payroll factor for apportionment of business income -- Compensation of flight personnel by an airline.

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59-7-316    Determination of compensation for inclusion in payroll factor.

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59-7-317    Sales factor for apportionment of business income -- Transportation revenues of an airline.

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59-7-318    Sales of tangible personal property.

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59-7-319    Circumstances under which a receipt, rent, royalty, or sale is considered to be in this state.

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59-7-320    Equitable adjustment of standard allocation or apportionment.

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59-7-321    Construction.

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59-7-401    Determining threshold level of business activity for corporations organized or incorporated outside of the United States.

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59-7-402    Water's edge combined report.

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59-7-403    Worldwide combined report.

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59-7-404    Calculation of unadjusted income for combined reporting.

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59-7-404.5    Adjustment to apportionment factors for corporations in a combined report -- Sales factor -- Property factor.

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59-7-405    Commission empowered to make rules.

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59-7-501    Accounting periods -- Methods of accounting.

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59-7-502    Change of taxable year or accounting period.

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59-7-503    Return where period changed.

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59-7-504    Estimated tax payments -- Penalty -- Waiver.

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59-7-505    Returns required -- When due -- Extension of time -- Exemption from filing.

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59-7-507    Payment of tax.

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59-7-508    Audit of returns.

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59-7-509    Failure to file return -- Penalty.

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59-7-510    Deficiency -- Interest.

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59-7-511    Penalty added to underpayments.

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59-7-512    Addition to tax in case of nonpayment.

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59-7-513    Interest when time for payment extended.

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59-7-514    Extension of time to pay deficiency.

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59-7-515    Interest when deficiency extended.

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59-7-519    Period of limitation for making assessments -- Change, correction, or amendment of federal income tax -- Duty of corporation to notify state -- Extensions.

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59-7-522    Overpayments.

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59-7-528    Failure to make return or supply information -- Penalty.

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59-7-529    General violations and penalties.

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59-7-530    Power to waive penalties or interest.

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59-7-531    Venue of offenses -- Evidence.

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59-7-532    Revenue received by commission -- Deposit with state treasurer -- Distribution or crediting to Education Fund -- Refund claim payments.

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59-7-533    Interest on overpayments.

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59-7-534    Failure to pay tax -- Suspension or forfeiture of corporate rights.

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59-7-535    Doing business thereafter -- Penalty.

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59-7-536    Relief in case of suspension or forfeiture.

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59-7-537    Confidentiality of information.

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59-7-601    Credit of interest income from state and federal securities.

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59-7-602    Credit for cash contributions to sheltered workshops.

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59-7-603    Credit for sophisticated technological equipment donated to schools.

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59-7-605    Definitions -- Cleaner burning fuels tax credit.

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59-7-606    Tax credit -- Items using cleaner burning fuels.

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59-7-607    Utah low-income housing tax credit.

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59-7-608    Targeted jobs tax credit.

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59-7-609    Historic preservation credit.

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59-7-610    Recycling market development zones tax credit.

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59-7-612    Tax credits for research activities conducted in the state -- Carry forward -- Commission to report modification or repeal of certain federal provisions -- Revenue and Taxation Interim Committee study.

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59-7-613    Tax credits for machinery, equipment, or both primarily used for conducting qualified research or basic research -- Carry forward -- Commission to report modification or repeal of certain federal provisions -- Revenue and Taxation Interim Committee study.

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59-7-614    Renewable energy systems tax credit -- Definitions -- Limitations -- Certification -- Rulemaking authority.

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59-7-614.1    Refundable tax credit for hand tools used in farming operations -- Procedures for refund -- Transfers from General Fund to Education Fund -- Rulemaking authority.

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59-7-614.2    Refundable economic development tax credit.

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59-7-614.3    Nonrefundable tax credit for qualifying solar projects.

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59-7-614.4    Tax credit for pass-through entity taxpayer.

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59-7-614.5    Refundable motion picture tax credit.

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59-7-614.6    Refundable tax credit for certain business entities generating state tax revenue increases.

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59-7-615    Removal of tax credit from tax form and prohibition on claiming or carrying forward a tax credit -- Conditions for removal and prohibition on claiming or carrying forward a tax credit -- Commission reporting requirements.

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59-7-701    Taxation of S corporations -- Revenue and Taxation Interim Committee study.

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59-7-705    Minimum tax not applicable to an S corporation.

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59-7-706    Distribution and credit of revenues.

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59-7-707    Commission rulemaking authority.

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59-7-801    Definitions.

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59-7-802    Taxation of unrelated business income.

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59-7-803    Filing returns -- Extension.

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59-7-804    Transition rule -- Net loss carryforwards.

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59-7-805    Apportionment provisions.

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means this portion of the Utah Code has been modified since the last update on 1 November 2011.

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Last revised: 11 January 2012