Utah Statutes
§ 59-7-303 — Apportionable income.
Utah·Title 59 Revenue and Taxation·Ch. 59-7 Corporate Franchise and Income Taxes·Part 59-7-3 Allocation and Apportionment of Income - Utah UDITPA Provisions
(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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Utah § 59-7-303 (Apportionable income.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Hercules Inc. v. Utah State Tax Commission, Auditing Division
877 P.2d 133 (Utah Supreme Court, 1994)
Legislative History
Amended by Chapter 228, 2022 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.