Utah § 59-7-303 Apportionable income.

Utah Statutes

§ 59-7-303 — Apportionable income.

Utah § 59-7-303

Title 59Revenue and Taxation

Ch. 59-7Corporate Franchise and Income Taxes

Part 59-7-3Allocation and Apportionment of Income - Utah UDITPA Provisions

This text of Utah § 59-7-303 (Apportionable income.) 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. § 59-7-303 (2026).

Text

(1)Any taxpayer having income from business activity which is taxable both within and without this state shall allocate and apportion the taxpayer's adjusted income as provided in this part.

(2)Any taxpayer having income solely from business activity taxable within this state shall allocate or apportion the taxpayer's entire adjusted income to this state.

(3)(3)(a) Notwithstanding Subsections (1) and (2), for a taxable year beginning on or after January 1, 2022, a taxpayer may elect to treat all of the taxpayer's income from sales of intangible property as business income.

(3)(b) A taxpayer shall make the election described in Subsection (3)(a) on or before the deadline for filing a return under an extension of time described in Section 59-7-505.

(3)(c) An election under this Subsection

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(1) Any taxpayer having income from business activity which is taxable both within and without this state shall allocate and apportion the taxpayer's adjusted income as provided in this part.
(2) Any taxpayer having income solely from business activity taxable within this state shall allocate or apportion the taxpayer's entire adjusted income to this state.
(3) (3)(a) Notwithstanding Subsections (1) and (2), for a taxable year beginning on or after January 1, 2022, a taxpayer may elect to treat all of the taxpayer's income from sales of intangible property as business income.
(3)(b) A taxpayer shall make the election described in Subsection (3)(a) on or before the deadline for filing a return under an extension of time described in Section 59-7-505.
(3)(c) An election under this Subsection (3) is irrevocable.