| (1) |
In computing a resident or nonresident individual‘s or resident or nonresident estate‘s or trust’s state taxable income for a taxable year under a method of accounting different from the method under which the resident or nonresident individual‘s or resident or nonresident estate’s or trust’s state taxable income was computed for the previous taxable year, state taxable income shall be increased or decreased:
Terms Used In Utah Code 59-10-124- Individual: means a natural person and includes aliens and minors. See Utah Code 59-10-103
- nonresident estate: means a trust or estate which is not a resident estate or trust. See Utah Code 59-10-103
- Nonresident individual: means an individual who is not a resident of this state. See Utah Code 59-10-103
- 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
| (a) |
to prevent double inclusion or exclusion of an item of gross income as a result of the change in the method of accounting; or |
| (b) |
to prevent double allowance or disallowance of a subtraction from or addition to gross income as a result of the change in the method of accounting. |
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Amended by Chapter 389, 2008 General Session
