Utah § 59-10-124 Adjustments between taxable years after change in accounting method.

Utah Statutes

§ 59-10-124 — Adjustments between taxable years after change in accounting method.

Utah § 59-10-124

Title 59Revenue and Taxation

Ch. 59-10Individual Income Tax Act

Part 59-10-1Determination and Reporting of Tax Liability and Information

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Bluebook

Utah Code Ann. § 59-10-124 (2026).

Text

(1)In computing a resident or nonresident individual's or resident or nonresident estate's or trust's state taxable income for a taxable year under a method of accounting different from the method under which the resident or nonresident individual's or resident or nonresident estate's or trust's state taxable income was computed for the previous taxable year, state taxable income shall be increased or decreased:

(1)(a) to prevent double inclusion or exclusion of an item of gross income as a result of the change in the method of accounting; or

(1)(b) to prevent double allowance or disallowance of a subtraction from or addition to gross income as a result of the change in the method of accounting.

(2)In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commissi

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(1) In computing a resident or nonresident individual's or resident or nonresident estate's or trust's state taxable income for a taxable year under a method of accounting different from the method under which the resident or nonresident individual's or resident or nonresident estate's or trust's state taxable income was computed for the previous taxable year, state taxable income shall be increased or decreased:

(1)(a) to prevent double inclusion or exclusion of an item of gross income as a result of the change in the method of accounting; or
(1)(b) to prevent double allowance or disallowance of a subtraction from or addition to gross income as a result of the change in the method of accounting.
(2) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commission may make rules for making an increase or decrease required by Subsection (1).