Utah Code 59-10-1032. Nonrefundable tax credit for employment of a person who is homeless

59-10-1032. Nonrefundable tax credit for employment of a person who is homeless.

(1)

As used in this section:

claimant: means a resident or nonresident person that has state taxable income. See Utah Code 59-10-1002
Employer: means the same as that term is defined in Section 59-10-401. See Utah Code 59-10-103
estate: means a nonresident estate or a resident estate that has state taxable income. See Utah Code 59-10-1002
Person: means :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
(a)	“Eligible employer” means a person who receives a tax credit certificate from the Department of Workforce Services in accordance with 3.

(b)	“Person who is homeless” is as defined in Section 35A-5-302.

(2)	Subject to the other provisions of this section, an eligible employer that is a claimant, estate, or trust may claim a nonrefundable tax credit as provided in this section against a tax under this chapter.

(3)	The tax credit under this section is the amount of tax credit listed on a tax credit certificate that the Department of Workforce Services issues to an employer for a taxable year under 3.

(4)

An eligible employer may carry forward a tax credit under this section for a period that does not exceed the next five taxable years if:

(a)	the eligible employer is allowed to claim a tax credit under this section; and

(b)	the amount of the tax credit exceeds the eligible employer’s tax liability under this chapter for that taxable year.

(5)	An eligible employer shall retain a tax credit certificate the eligible employer receives from the Department of Workforce Services for the same time period a person is required to keep books and records under Section 59-1-1406.

Enacted by Chapter 315, 2014 General Session