Utah § 59-5-305 High cost infrastructure tax credit.

Utah Statutes

§ 59-5-305 — High cost infrastructure tax credit.

Utah § 59-5-305

Title 59Revenue and Taxation

Ch. 59-5Severance Tax on Oil, Gas, and Mining

Part 59-5-3Tax Credits

This text of Utah § 59-5-305 (High cost infrastructure tax credit.) 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. § 59-5-305 (2026).

Text

(1)(1)(a) Subject to Subsection (1)(b), an infrastructure cost-burdened entity may claim a nonrefundable tax credit against severance taxes due under Part 1, Oil and Gas Severance Tax, or Part 2, Mining Severance Tax, for development of a high cost infrastructure project.

(1)(b) An infrastructure cost-burdened entity may not claim a tax credit under this section and under Section 59-7-619 or 59-10-1034 using the same tax credit certificate.

(2)The tax credit under this section is the amount listed as the tax credit amount on a tax credit certificate that the office issues under Title 79, Chapter 6, Part 6, High Cost Infrastructure Development Tax Credit Act, to the infrastructure cost-burdened entity for the taxable year.

(3)An infrastructure cost-burdened entity may carry forward a tax

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(1) (1)(a) Subject to Subsection (1)(b), an infrastructure cost-burdened entity may claim a nonrefundable tax credit against severance taxes due under Part 1, Oil and Gas Severance Tax, or Part 2, Mining Severance Tax, for development of a high cost infrastructure project.
(1)(b) An infrastructure cost-burdened entity may not claim a tax credit under this section and under Section 59-7-619 or 59-10-1034 using the same tax credit certificate.
(2) The tax credit under this section is the amount listed as the tax credit amount on a tax credit certificate that the office issues under Title 79, Chapter 6, Part 6, High Cost Infrastructure Development Tax Credit Act, to the infrastructure cost-burdened entity for the taxable year.
(3) An infrastructure cost-burdened entity may carry forward a tax credit under this section for a period that does not exceed the next seven taxable years if the amount of the severance tax credit exceeds the infrastructure cost-burdened entity's tax liability under this chapter for that taxable year.