Utah Statutes
§ 59-7-111 — Safe harbor lease provisions.
Utah·Title 59 Revenue and Taxation·Ch. 59-7 Corporate Franchise and Income Taxes·Part 59-7-1 Corporate Tax Generally
(1)(1)(a) For purchasers or lessors of safe harbor leases, the following additions shall be made to unadjusted income:
(1)(a)(i) interest expense; and
(1)(a)(ii) depreciation claimed on safe harbor lease property.
(1)(b) For purchasers or lessors of safe harbor leases, the following subtractions shall be made from unadjusted income:
(1)(b)(i) rental income; and
(1)(b)(ii) amortization of the purchase price of tax benefits.
(2)(2)(a) For sellers or lessees of safe harbor leases the following additions shall be made from unadjusted income:
(2)(a)(i) the amount of gain on the sale of federal tax benefits; and
(2)(a)(ii) rental expense on safe harbor lease property.
(2)(b) For sellers or lessees of safe harbor leases the following subtractions shall be made to unadjusted income:
(2)(b)(i) in
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Legislative History
Repealed and Re-enacted by Chapter 169, 1993 General Session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.