Title 59 Chapter 7

Title 59Revenue and Taxation (Download: PDF | RTF | WordPerfect) (Download Future Chapters: PDF | RTF | WordPerfect)
Chapter 7Corporate Franchise and Income Taxes (Download: PDF | RTF | WordPerfect) (Download Future Sections: PDF | RTF | WordPerfect)
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Section 101 Definitions.
Section 102 Exemptions.
Section 103 Chapter applicable to receivers, trustees in bankruptcy and assignees.
Section 104 Tax -- Minimum tax.
Section 105 Additions to unadjusted income.
Section 106 Subtractions from unadjusted income.
Section 107 Basis.
Section 108 Distributions by corporations.
Section 109 Charitable contributions.
Section 110 Utah net losses -- Carryforwards and carrybacks -- Deduction.
Section 111 Safe harbor lease provisions.
Section 112 Installment sales.
Section 113 Allocation of income and deductions between several corporations controlled by same interests.
Section 114 Section 338, Internal Revenue Code -- Elections.
Section 115 Section 336(e), Internal Revenue Code -- Elections.
Section 116 Taxation of regulated investment companies.
Section 116.5 Real estate investment trusts.
Section 117 Equitable adjustments.
Section 201 Tax -- Minimum tax.
Section 203 Computation of Utah taxable income.
Section 204 Income attributed to sources within the state.
Section 205 Applicability of Parts 5 and 6 of chapter.
Section 206 Offsets against tax.
Section 207 Corporations becoming subject to tax -- Assessment under other sections.
Section 208 Provisions followed for purposes of tax collected.
Section 302 Definitions -- Determination of when a taxpayer is considered to be a sales factor weighted taxpayer.
Section 303 Apportionable income.
Section 305 When taxable in another state.
Section 306 Allocation of certain nonbusiness income.
Section 307 Allocation of rents and royalties.
Section 308 Allocation of capital gains and losses.
Section 309 Allocation of interest and dividends.
Section 310 Allocation of patent and copyright royalties.
Section 311 Method of apportionment of business income.
Section 312 Property factor for apportionment of business income -- Mobile flight equipment of an airline.
Section 313 Valuation of property for inclusion in property factor.
Section 314 Averaging property values for inclusion in property factors.
Section 315 Payroll factor for apportionment of business income -- Compensation of flight personnel by an airline.
Section 316 Determination of compensation for inclusion in payroll factor.
Section 317 Sales factor for apportionment of business income -- Transportation revenues of an airline.
Section 318 Sales of tangible personal property.
Section 319 Circumstances under which a receipt, rent, royalty, or sale is considered to be in this state.
Section 320 Equitable adjustment of standard allocation or apportionment.
Section 321 Construction.
Section 401 Determining threshold level of business activity for corporations organized or incorporated outside of the United States.
Section 402 Water's edge combined report.
Section 403 Worldwide combined report.
Section 404 Calculation of unadjusted income for combined reporting.
Section 404.5 Adjustment to apportionment factors for corporations in a combined report -- Sales factor -- Property factor.
Section 405 Commission empowered to make rules.
Section 501 Accounting periods -- Methods of accounting.
Section 502 Change of taxable year or accounting period.
Section 503 Return where period changed.
Section 504 Estimated tax payments -- Penalty -- Waiver.
Section 505 Returns required -- When due -- Extension of time -- Exemption from filing.
Section 507 Payment of tax.
Section 508 Audit of returns.
Section 509 Failure to file return -- Penalty.
Section 510 Deficiency -- Interest.
Section 511 Penalty added to underpayments.
Section 512 Addition to tax in case of nonpayment.
Section 513 Interest when time for payment extended.
Section 514 Extension of time to pay deficiency.
Section 515 Interest when deficiency extended.
Section 519 Period of limitation for making assessments -- Change, correction, or amendment of federal income tax -- Duty of corporation to notify state -- Extensions.
Section 522 Overpayments.
Section 528 Failure to make return or supply information -- Penalty.
Section 529 General violations and penalties.
Section 530 Power to waive penalties or interest.
Section 531 Venue of offenses -- Evidence.
Section 532 Revenue received by commission -- Deposit with state treasurer -- Distribution or crediting to Education Fund -- Refund claim payments.
Section 533 Interest on overpayments.
Section 534 Failure to pay tax -- Suspension or forfeiture of corporate rights.
Section 535 Doing business after suspension or forfeiture of certain corporate powers, rights, and privileges -- Penalty.
Section 536 Relief in case of suspension or forfeiture.
Section 537 Confidentiality of information.
Section 601 Credit of interest income from state and federal securities.
Section 602 Credit for cash contributions to sheltered workshops.
Section 603 Credit for sophisticated technological equipment donated to schools.
Section 605 (Superseded 01/01/14) Definitions -- Cleaner burning fuels tax credit.
Section 605 (Effective 01/01/14) Definitions -- Cleaner burning fuels tax credit.
Section 606 Tax credit -- Items using cleaner burning fuels.
Section 607 Utah low-income housing tax credit.
Section 608 Targeted jobs tax credit.
Section 609 Historic preservation credit.
Section 610 Recycling market development zones tax credit.
Section 612 Tax credits for research activities conducted in the state -- Carry forward -- Commission to report modification or repeal of certain federal provisions -- Revenue and Taxation Interim Committee study.
Section 613 Tax credits for machinery, equipment, or both primarily used for conducting qualified research or basic research -- Carry forward -- Commission to report modification or repeal of certain federal provisions -- Revenue and Taxation Interim Committee study.
Section 614 Renewable energy systems tax credit -- Definitions -- Limitations -- Certification -- Rulemaking authority.
Section 614.1 Refundable tax credit for hand tools used in farming operations -- Procedures for refund -- Transfers from General Fund to Education Fund -- Rulemaking authority.
Section 614.2 Refundable economic development tax credit.
Section 614.3 Nonrefundable tax credit for qualifying solar projects.
Section 614.4 Tax credit for pass-through entity taxpayer.
Section 614.5 Refundable motion picture tax credit.
Section 614.6 Refundable tax credit for certain business entities generating state tax revenue increases.
Section 614.7 Nonrefundable alternative energy development tax credit.
Section 614.8 Nonrefundable alternative energy manufacturing tax credit.
Section 614.9 Nonrefundable tax credit for employing a recently deployed veteran.
Section 615 Removal of tax credit from tax form and prohibition on claiming or carrying forward a tax credit -- Conditions for removal and prohibition on claiming or carrying forward a tax credit -- Commission reporting requirements.
Section 701 Taxation of S corporations -- Revenue and Taxation Interim Committee study.
Section 705 Minimum tax not applicable to an S corporation.
Section 706 Distribution and credit of revenues.
Section 707 Commission rulemaking authority.
Section 801 Definitions.
Section 802 Taxation of unrelated business income.
Section 803 Filing returns -- Extension.
Section 804 Transition rule -- Net loss carryforwards.
Section 805 Apportionment provisions.
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