5/7/20251/1/2026Nonrefundable tax credit for social security benefits.As used in this section:"Head of household filing status" means the same as that term is defined in Section 59-10-1018."Joint filing status" means the same as that term is defined in Section 59-10-1018."Married filing separately status" means a married individual who:does not file a single federal individual income tax return jointly with that married individual's spouse for the taxable year; andfiles a single federal individual income tax return for the taxable year."Modified adjusted gross income" means the sum of the following for a claimant or, if the claimant's return under this chapter is allowed a joint filing status, the claimant and the claimant's spouse:adjusted gross income for the taxable year for which a tax credit is claimed under this section;any interest income that is not included in adjusted gross income for the taxable year described in Subsection (1)(d)(i); andany addition to adjusted gross income required by Section 59-10-114 for the taxable year described in Subsection (1)(d)(i)."Single filing status" means a single individual who files a single federal individual income tax return for the taxable year."Social security benefit" means an amount received by a claimant as a monthly benefit in accordance with the Social Security Act, 42 U.S.C. Sec. 401 et seq.Except as provided in Section 59-10-1002.2 and Subsections (3) and (4), each claimant on a return that receives a social security benefit may claim a nonrefundable tax credit against taxes otherwise due under this part equal to the product of:the percentage listed in Subsection 59-10-104(2); andthe claimant's social security benefit that is included in the claimant's state taxable income for the taxable year.A claimant may not:carry forward or carry back the amount of a tax credit under this section that exceeds the claimant's tax liability for the taxable year; orclaim a tax credit under this section for a taxable year if a tax credit under Section 59-10-1019 is claimed on the claimant's return for the same taxable year.The tax credit allowed by Subsection (2) claimed on a return filed under this part shall be reduced by $.025 for each dollar by which modified adjusted gross income for purposes of the return exceeds:for a federal individual income tax return that is allowed a married filing separately status, $45,000;for a federal individual income tax return that is allowed a single filing status, $54,000;for a federal individual income tax return that is allowed a head of household filing status, $90,000; orfor a return under this chapter that is allowed a joint filing status, $90,000.In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commission may make rules governing the calculation and method for claiming the tax credit described in this section.