| (1) |
As used in this section:
Terms Used In Utah Code 59-7-614.4- Taxpayer: means any corporation subject to the tax imposed by this chapter. See Utah Code 59-7-101
| (a) |
“Pass-through entity” is as defined in Section 59-10-1402. |
| (b) |
“Pass-through entity taxpayer” is as 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. |
| (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. |
| (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 59-10-1103. |
Enacted by Chapter 312, 2009 General Session
