Utah Code 59-10-1103. Tax credit for pass-through entity taxpayer

59-10-1103. Tax credit for pass-through entity taxpayer.

(1)

As used in this section:

Terms Used In Utah Code 59-10-1103

Pass-through entity: means the same as that term is defined in Section 59-10-1402. See Utah Code 59-10-103
Pass-through entity taxpayer: means the same as that term is defined in Section 59-10-1402. See Utah Code 59-10-103
tax credit: means a tax credit that a claimant, estate, or trust may claim:

(a)	as provided by statute; and

(b)

regardless of whether the claimant, estate, or trust has a tax liability under this chapter for a taxable year. See Utah Code 59-10-1102

Taxpayer: means any of the following that has income subject in whole or part to the tax imposed by this chapter:

(i)	an individual;

(ii)	an estate, a trust, or a beneficiary of an estate or a trust that is not a pass-through entity or a pass-through entity taxpayer;

(iii)

a pass-through entity; or

(iv)	a pass-through entity taxpayer. See Utah Code 59-10-103
(a)	“Pass-through entity” means the same as that term is defined in Section 59-10-1402.

(b)	“Pass-through entity taxpayer” means the same as that term is defined in Section 59-10-1402.

(2)

A pass-through entity taxpayer may claim a refundable tax credit against the tax otherwise due under this chapter if that pass-through entity taxpayer is a:

(a)

claimant;

(b)	estate; or

(c)

trust.

(3)	The tax credit described in Subsection (2) is equal to the amount paid or withheld by the pass-through entity on behalf of the pass-through entity taxpayer described in Subsection (2) in accordance with Section 59-10-1403.2, other than a tax described in Subsection 59-10-1403.2(2).

(4)	A pass-through entity taxpayer may not claim a tax credit under this section for an amount for which the pass-through entity taxpayer claims a tax credit under Section 59-7-614.4.

Amended by Chapter 238, 2022 General Session

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