Utah § 59-10-1045 Nonrefundable tax credit for taxes paid by pass-through entity.

Utah Statutes

§ 59-10-1045 — Nonrefundable tax credit for taxes paid by pass-through entity.

Utah § 59-10-1045

Title 59Revenue and Taxation

Ch. 59-10Individual Income Tax Act

Part 59-10-10Nonrefundable Tax Credit Act

This text of Utah § 59-10-1045 (Nonrefundable tax credit for taxes paid by pass-through entity.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 59-10-1045 (2026).

Text

(1)As used in this section, "taxed pass-through entity taxpayer" means a resident or nonresident individual who:

(1)(a) has income attributed to the individual by a pass-through entity;

(1)(b) receives the income described in Subsection (1)(a) after the pass-through entity pays the tax described in Subsection 59-10-1403.2(2); and

(1)(c) adds the amount of tax paid on the income described in Subsection (1)(a) to adjusted gross income in accordance with Subsection 59-10-114(1)(i).

(2)(2)(a) A taxed pass-through entity taxpayer may claim a nonrefundable tax credit for the taxes imposed under Subsection 59-10-1403.2(2).

(2)(b) The tax credit is equal to the amount of the tax paid under Subsection 59-10-1403.2(2) by the pass-through entity on the income attributed to the taxed pass-through en

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(1) As used in this section, "taxed pass-through entity taxpayer" means a resident or nonresident individual who:
(1)(a) has income attributed to the individual by a pass-through entity;
(1)(b) receives the income described in Subsection (1)(a) after the pass-through entity pays the tax described in Subsection 59-10-1403.2(2); and
(1)(c) adds the amount of tax paid on the income described in Subsection (1)(a) to adjusted gross income in accordance with Subsection 59-10-114(1)(i).
(2) (2)(a) A taxed pass-through entity taxpayer may claim a nonrefundable tax credit for the taxes imposed under Subsection 59-10-1403.2(2).
(2)(b) The tax credit is equal to the amount of the tax paid under Subsection 59-10-1403.2(2) by the pass-through entity on the income attributed to the taxed pass-through entity taxpayer.
(3) (3)(a) A taxed pass-through entity taxpayer may carry forward the amount of the tax credit that exceeds the taxed pass-through entity taxpayer's tax liability for a period that does not exceed the next ten taxable years.
(3)(b) A taxed pass-through entity taxpayer may not carry back the amount of the tax credit that exceeds the taxed pass-through entity taxpayer's tax liability for the taxable year.