Utah Code 59-10-1003. Tax credit for tax paid by individual to another state

(1)

Except as provided in Subsection (2), a claimant, estate, or trust may claim a nonrefundable tax credit against the tax otherwise due under this chapter equal to the amount of the tax imposed:

Terms Used In Utah Code 59-10-1003

claimant: means a resident or nonresident person that has state taxable income. See Utah Code 59-10-1002
estate: means a nonresident estate or a resident estate that has state taxable income. See Utah Code 59-10-1002
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
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

trust: means a nonresident trust or a resident trust that has state taxable income. See Utah Code 59-10-1002

United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5

(a)

on that claimant, estate, or trust for the taxable year;

(b)	by another state of the United States, the District of Columbia, or a possession of the United States; and

(c)

on income:

(i)	derived from sources within that other state of the United States, District of Columbia, or possession of the United States; and

(ii)	if that income is also subject to tax under this chapter.

(2)

A tax credit under this section may only be claimed by a:

(a)	resident claimant;

(b)	resident estate; or

(c)	resident trust.

(3)	The application of the tax credit provided under this section may not operate to reduce the tax payable under this chapter to an amount less than would have been payable were the income from the other state disregarded.

(4)	The tax credit provided by this section shall be computed and claimed in accordance with rules prescribed by the commission.

Renumbered and Amended by Chapter 223, 2006 General Session

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