Utah Statutes
§ 59-7-116 — Taxation of regulated investment companies.
Utah·Title 59 Revenue and Taxation·Ch. 59-7 Corporate Franchise and Income Taxes·Part 59-7-1 Corporate Tax Generally
(1)A regulated investment company or a fund of such a company, as defined in Sections 851(a) or 851(g), Internal Revenue Code, which is organized under the laws of Utah, shall determine Utah taxable income as follows:
(1)(a) calculate investment company taxable income, as determined in Section 852(b)(2), Internal Revenue Code;
(1)(b) add any municipal interest and the exclusion of net capital gain provided in Section 852(b)(2)(A), Internal Revenue Code; and
(1)(c) subtract the deduction for the capital gain dividends and exempt interest dividends as defined in Sections 852(b)(3)(C) and 852(b)(5), Internal Revenue Code.
(2)A regulated investment company which is organized under the laws of Utah or a fund of such a company, shall be taxed at the same rate and in the same manner as a corpo
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Legislative History
Amended by Chapter 250, 2008 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.