Utah Code 59-7-538. Carry forward of expired or repealed tax credit
Current as of: 2023 | Check for updates
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Terms Used In Utah Code 59-7-538
- Income: includes losses. See Utah Code 59-7-101
- taxable year: includes the period for which such return is made. See Utah Code 59-7-101
- Taxpayer: means any corporation subject to the tax imposed by this chapter. See Utah Code 59-7-101
59-7-538. Carry forward of expired or repealed tax credit.
When a nonrefundable corporate income tax credit under 6, expires or is repealed, the commission shall allow a taxpayer to carry forward any amount of the tax credit that remains for the period of time described in the tax credit for the taxable year in which the taxpayer first claimed the tax credit.
When a nonrefundable corporate income tax credit under 6, expires or is repealed, the commission shall allow a taxpayer to carry forward any amount of the tax credit that remains for the period of time described in the tax credit for the taxable year in which the taxpayer first claimed the tax credit.
Enacted by Chapter 258, 2022 General Session