Title 59 Chapter 10 Section 1103

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Title 59
Revenue and Taxation
Chapter 10
Individual Income Tax Act
Section 1103
Tax credit for pass-through entity taxpayer.

            

59-10-1103.   Tax credit for pass-through entity taxpayer.

            (1) As used in this section:

            (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 if that pass-through entity taxpayer is a:

            (a) claimant;

            (b) estate; or

            (c) trust.

            (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 59-7-614.4.


Amended by Chapter 312, 2009 General Session

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