Utah Code 59-7-624. Targeted business income tax credit
Current as of: 2023 | Check for updates
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59-7-624. Targeted business income tax credit.
| (1) | As used in this section, “business applicant” means the same as that term is defined in Section 63N-2-302. |
| (2) | For a taxable year that begins before January 1, 2023, a business applicant that is certified and issued a targeted business income tax eligibility certificate by the Governor’s Office of Economic Opportunity under Section 63N-2-304 may claim a refundable tax credit in the amount specified on the targeted business income tax eligibility certificate. |
| (3) | For a taxable year for which a business applicant claims a targeted business income tax credit under this section, the business applicant may not claim or carry forward a tax credit under Section 59-7-610, Section 59-10-1007, or 2. |
Amended by Chapter 264, 2022 General Session