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7 LONG TITLE
8 General Description:
9 This bill enacts a military member income tax credit.
10 Highlighted Provisions:
11 This bill:
12 ▸ enacts a nonrefundable income tax credit for certain members of the armed forces
13 who are deployed on active military duty outside of the United States.
14 Money Appropriated in this Bill:
15 None
16 Other Special Clauses:
17 This bill provides a special effective date.
18 Utah Code Sections Affected:
19 ENACTS:
20 59-10-1046, Utah Code Annotated 1953
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22 Be it enacted by the Legislature of the state of Utah:
23 Section 1. Section 59-10-1046 is enacted to read:
24 59-10-1046. Nonrefundable tax credit for active duty military member.
25 (1) As used in this section:
26 (a) "Military pay" means compensation that relates to service in the armed forces.
27 (b) "Qualifying claimant" means a resident individual who:
28 (i) is deployed on active military duty for at least 300 consecutive days of the taxable
29 year outside of a state of the United States, the District of Columbia, or a possession of the
30 United States; and
31 (ii) does not have a spouse or dependent residing within a state of the United States, the
32 District of Columbia, or a possession of the United States.
33 (2) A qualifying claimant who receives military pay may claim a nonrefundable tax
34 credit equal to the product of:
35 (a) the percentage listed in Subsection 59-10-104(2); and
36 (b) the amount of military pay that is included in adjusted gross income on the
37 qualifying claimant's federal income tax return for the taxable year.
38 (3) A qualifying claimant may not carry forward or carry back the amount of a tax
39 credit that exceeds the qualifying claimant's tax liability for the taxable year.
40 Section 2. Effective date.
41 This bill takes effect for a taxable year beginning on or after January 1, 2024.