Terms Used In Utah Code 59-10-1001

• tax credit: means a tax credit that a claimant, estate, or trust may:

  (a)	claim: (i)  as provided by statute; and (ii)  in an amount that does not exceed the claimant's, estate's, or trust's tax liability under this chapter for a taxable year; and

  (b)

  carry forward or carry back: (i)  if allowed by statute; and (ii)  unless otherwise provided in statute, to the extent that the amount of the tax credit exceeds the claimant's, estate's, or trust's tax liability under this chapter for a taxable year. See Utah Code 59-10-1002      This part is known as the “Nonrefundable Tax Credit Act.” Enacted by Chapter 223, 2006 General Session   Previous section Next section    Part 10 Contents