(g) | business entity similar to Subsections (1)(c) through (f):(i) | with respect to which the business entity's income or losses are divided among and passed through to taxpayers; and |
(ii) | as defined by the commission by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act. See Utah Code 59-6-101claimant: means a resident or nonresident person. See Utah Code 59-6-101Estate: means a nonresident estate or a resident estate. See Utah Code 59-6-101Minerals: means :(a) | metalliferous minerals as defined in Section 59-2-102; |
(b) | nonmetalliferous minerals as defined in Section 59-2-102; or |
(c) | a combination of Subsections (4)(a) and (b). See Utah Code 59-6-101Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.Producer: means a person that:(a) | produces or extracts minerals from deposits in this state; or |
(b) | is the first purchaser of minerals produced or extracted from deposits in this state. See Utah Code 59-6-101State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5tax 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:(i) | for a tax imposed under: |
(ii) | for the taxable year for which the claimant, estate, or trust claims the tax credit. See Utah Code 59-6-101Tax return: means a return required by:(c) | Chapter 10, Individual Income Tax Act. See Utah Code 59-6-101Trust: means a nonresident trust or a resident trust. See Utah Code 59-6-101United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5 |
(2) |
The obligation to deduct and withhold from payments as provided in Subsection (1) does not apply to those payments which are payable to:
(a) |
the United States, this state, or an agency or political subdivision of the United States or this state; |
(c) |
an Indian or Indian tribe if the amounts accruing are subject to the supervision of the United States or an agency of the United States; or |
(d) |
a business entity that files an exemption certificate in accordance with Section 59-6-102.1. |
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(3) |
A claimant, estate, or trust that files a tax return with the commission may claim a refundable tax credit against the tax reflected on the tax return for the amount withheld by the producer under Subsection (1). |
Amended by Chapter 255, 2008 General Session
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