Utah § 59-10-126 Business entities not subject to tax -- Exceptions.

Utah Statutes

§ 59-10-126 — Business entities not subject to tax -- Exceptions.

Utah § 59-10-126

Title 59Revenue and Taxation

Ch. 59-10Individual Income Tax Act

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

This text of Utah § 59-10-126 (Business entities not subject to tax -- Exceptions.) 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. § 59-10-126 (2026).

Text

(1)A business entity that is taxable as a corporation for federal income tax purposes:

(1)(a) may not be subject to the tax imposed by this chapter; and

(1)(b) is subject to Chapter 7, Corporate Franchise and Income Taxes.

(2)A business entity that is exempt from federal income taxation is exempt from the tax imposed by this chapter.

(3)Notwithstanding Subsection (2), if a business entity that is exempt from federal income taxation has income that is subject to federal income taxation, that income is subject to taxation under Chapter 7, Corporate Franchise and Income Taxes.

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(1) A business entity that is taxable as a corporation for federal income tax purposes:

(1)(a) may not be subject to the tax imposed by this chapter; and
(1)(b) is subject to Chapter 7, Corporate Franchise and Income Taxes.
(2) A business entity that is exempt from federal income taxation is exempt from the tax imposed by this chapter.
(3) Notwithstanding Subsection (2), if a business entity that is exempt from federal income taxation has income that is subject to federal income taxation, that income is subject to taxation under Chapter 7, Corporate Franchise and Income Taxes.