Utah Code 59-1-1302. Definitions
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(1) “Gross income” is as defined in Section 61, Internal Revenue Code.
Terms Used In Utah Code 59-1-1302
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: means :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
- United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
(2) “Income tax” means a tax imposed under:(2)(a)Chapter 7, Corporate Franchise and Income Taxes ; or(2)(b)Chapter 10, Individual Income Tax Act .(3) “Income tax return” means a return filed under:(3)(a)Chapter 7, Corporate Franchise and Income Taxes ; or(3)(b)Chapter 10, Individual Income Tax Act .(4) “Listed transaction” means a reportable transaction that is the same as, or substantially similar to, a transaction or arrangement specifically identified as a listed transaction by the:(4)(a) United States Secretary of the Treasury in written materials interpreting the requirements of Section 6011, Internal Revenue Code; or(4)(b) commission by rule made in accordance withTitle 63G, Chapter 3, Utah Administrative Rulemaking Act .(5) “Material advisor” is as defined in Section 6111, Internal Revenue Code.(6) “Reportable transaction” means a transaction or arrangement that:(6)(a) is carried out through or invested in by one or more entities that:(6)(a)(i) are organized in this state;(6)(a)(ii) do business in this state;(6)(a)(iii) derive gross income from sources within this state;(6)(a)(iv) are subject to income tax; or(6)(a)(v) are otherwise subject to the jurisdiction of this state; and(6)(b) is:(6)(b)(i) a transaction or arrangement described in 26 C.F.R. § 1.6011-4(b)(2) through (7); or(6)(b)(ii) a reportable transaction as described by the commission by rule made in accordance withTitle 63G, Chapter 3, Utah Administrative Rulemaking Act .(7) “Taxpayer” means a person that is required to file an income tax return.(8) “Unitary group” is as defined in Section59-7-101 .