Utah Statutes
§ 59-7-402 — Water's edge combined report.
Utah·Title 59 Revenue and Taxation·Ch. 59-7 Corporate Franchise and Income Taxes·Part 59-7-4 Combined Reporting
(1)Except as provided in Section 59-7-403, if any corporation listed in Subsection 59-7-101(40)(a) is doing business in Utah, the unitary group shall file a water's edge combined report.
(2)(2)(a) A group of corporations that are not otherwise a unitary group may elect to file a water's edge combined report if each member of the group is:
(2)(a)(i) doing business in Utah;
(2)(a)(ii) part of the same affiliated group; and
(2)(a)(iii) qualified, under Section 1501, Internal Revenue Code, to file a federal consolidated return.
(2)(b) Each corporation within the affiliated group that is doing business in Utah must consent to filing a combined report. If an affiliated group elects to file a combined report, each corporation within the affiliated group that is doing business in Utah must file
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Legislative History
Amended by Chapter 368, 2021 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
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Private collection of tax -- Fee.§ 59-1-1302
Definitions.