Utah § 59-10-1047 Nonrefundable child tax credit.

Utah Statutes

§ 59-10-1047 — Nonrefundable child tax credit.

Utah·Title 59 Revenue and Taxation·Ch. 59-10 Individual Income Tax Act·Part 59-10-10 Nonrefundable Tax Credit Act

(1)As used in this section:

(1)(a) "Joint filing status" means the same as that term is defined in Section 59-10-1018.

(1)(b) "Head of household filing status" means the same as that term is defined in Section 59-10-1018.

(1)(c) "Married filing separately status" means a married individual who:

(1)(c)(i) does not file a single federal individual income tax return jointly with that married individual's spouse for the taxable year; and

(1)(c)(ii) files a single federal individual income tax return for the taxable year.

(1)(d) "Modified adjusted gross income" means the sum of the following for a claimant or, if the claimant's federal individual income tax return is allowed a joint filing status, the claimant and the claimant's spouse:

(1)(d)(i) adjusted gross income for the taxable year for

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(1) As used in this section:
(1)(a) "Joint filing status" means the same as that term is defined in Section 59-10-1018.
(1)(b) "Head of household filing status" means the same as that term is defined in Section 59-10-1018.
(1)(c) "Married filing separately status" means a married individual who:
(1)(c)(i) does not file a single federal individual income tax return jointly with that married individual's spouse for the taxable year; and
(1)(c)(ii) files a single federal individual income tax return for the taxable year.
(1)(d) "Modified adjusted gross income" means the sum of the following for a claimant or, if the claimant's federal individual income tax return is allowed a joint filing status, the claimant and the claimant's spouse:
(1)(d)(i) adjusted gross income for the taxable year for which a tax credit is claimed under this section;
(1)(d)(ii) any interest income that is not included in adjusted gross income for the taxable year described in Subsection (1)(d)(i); and
(1)(d)(iii) any addition to adjusted gross income required by Section 59-10-114 for the taxable year described in Subsection (1)(d)(i).
(1)(e) "Qualifying child" means an individual:
(1)(e)(i) with respect to whom the claimant is allowed to claim a tax credit under Section 24, Internal Revenue Code, on the claimant's federal individual income tax return for the taxable year; and
(1)(e)(ii) who is under six years old on the last day of the claimant's taxable year.
(1)(f) "Single filing status" means a single individual who files a single federal individual income tax return for the taxable year.
(2) Subject to Section 59-10-1002.2, a claimant may claim a nonrefundable tax credit of $1,000 for each qualifying child.
(3) A claimant may not carry forward or carry back the amount of the tax credit that exceeds the claimant's tax liability.
(4) The tax credit allowed by Subsection (2) claimed on a return filed under this part shall be reduced by $.10 for each dollar by which modified adjusted gross income for purposes of the return exceeds:
(4)(a) for a federal individual income tax return that is allowed a married filing separately status, $27,000;
(4)(b) for a federal individual income tax return that is allowed a single filing status or head of household filing status, $43,000; and
(4)(c) for a federal individual income tax return that is allowed a joint filing status, $54,000.