| (1) |
As used in this section:
Terms Used In Utah Code 59-10-1111- claimant: means a resident or nonresident person. See Utah Code 59-10-1102
- 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 |
| (a) |
“Psychiatric mental health nurse practitioner” means the same as that term is defined in Section 58-1-111. |
| (b) |
“Psychiatrist” means the same as that term is defined in Section 58-1-111. |
| (c) |
“Tax credit certificate” means a certificate issued by the Division of Professional Licensing under Section 58-1-111 certifying that the claimant is entitled to a tax credit under this section. |
| (d) |
“Volunteer retired psychiatrist” means the same as that term is defined in Section 58-1-111. |
| (2) |
A claimant who is a psychiatrist or a psychiatric mental health nurse practitioner and who submits a tax credit certificate issued by the Division of Professional Licensing under Subsection 58-1-111(3), may claim a refundable tax credit:
| (a) |
as provided in this section; and |
| (b) |
in the amount of $10,000. |
|
| (3) |
A claimant who is a psychiatrist or a psychiatric mental health nurse practitioner and who submits a tax credit certificate under Subsection 58-1-111(4) may claim a refundable tax credit:
| (a) |
as provided in this section; and |
| (b) |
in the amount of $10,000. |
|
| (4) |
A claimant who is a volunteer retired psychiatrist and who submits a tax credit certificate under Subsection 58-1-111(5) may claim a refundable tax credit:
| (a) |
as provided in this section; and |
| (b) |
in the amount of $10,000. |
|
| (5) |
A claimant may claim a tax credit under Subsections (2) through (4) for no more than 10 taxable years for each tax credit. |
| (6) |
| (a) |
In accordance with any rules prescribed by the commission under Subsection (6)(b), the commission shall make a refund to a claimant who claims a tax credit under this section if the amount of the tax credit exceeds the claimant’s tax liability for the taxable year. |
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Amended by Chapter 415, 2022 General Session
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