Utah Statutes
§ 59-5-305 — High cost infrastructure tax credit.
Utah·Title 59 Revenue and Taxation·Ch. 59-5 Severance Tax on Oil, Gas, and Mining·Part 59-5-3 Tax Credits
(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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Utah § 59-5-305 (High cost infrastructure tax credit.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Chapter 159, 2025 General Session
Nearby Sections
15
§ 59-1-1001
Statement of taxpayer rights.§ 59-1-1002
Audit interviews.§ 59-1-1003
Penalty waiver.§ 59-1-1004
Installment payments.§ 59-1-1005
Suits against commission and its employees.§ 59-1-101
Definitions.§ 59-1-103
Income Tax Surplus Restricted Account.§ 59-1-1101
Private collection of tax -- Fee.§ 59-1-1302
Definitions.