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Index	Utah Code
Title 59	Revenue and Taxation
Chapter 10	Individual Income Tax Act
Part 10	Nonrefundable Tax Credit Act
Section 1045	Nonrefundable tax credit for taxes paid by pass-through entity. *(Effective 1/1/2025)*

Effective 1/1/2025
59-10-1045. Nonrefundable tax credit for taxes paid by pass-through entity.

(1)

As used in this section, "taxed pass-through entity taxpayer" means a resident or nonresident individual who:

(a)	has income attributed to the individual by a pass-through entity;

(b)	receives the income described in Subsection (1)(a) after the pass-through entity pays the tax described in Subsection 59-10-1403.2(2); and

(c)	adds the amount of tax paid on the income described in Subsection (1)(a) to adjusted gross income in accordance with Subsection 59-10-114(1)(i).

(2)

(a)	A taxed pass-through entity taxpayer may claim a nonrefundable tax credit for the taxes imposed under Subsection 59-10-1403.2(2).

(b)	The tax credit is equal to the amount of the tax paid under Subsection 59-10-1403.2(2) by the pass-through entity on the income attributed to the taxed pass-through entity taxpayer.

(3)

(a)	A taxed pass-through entity taxpayer may carry forward the amount of the tax credit that exceeds the taxed pass-through entity taxpayer's tax liability for a period that does not exceed the next ten taxable years.

(b)	A taxed pass-through entity taxpayer may not carry back the amount of the tax credit that exceeds the taxed pass-through entity taxpayer's tax liability for the taxable year.

Amended by Chapter 182, 2025 General Session

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