Utah Statutes
§ 59-7-404 — Calculation of unadjusted income for combined reporting.
Utah·Title 59 Revenue and Taxation·Ch. 59-7 Corporate Franchise and Income Taxes·Part 59-7-4 Combined Reporting
(1)A group filing a combined report under Section 59-7-402 or 59-7-403 shall calculate unadjusted income of the combined group by:
(1)(a) computing unadjusted income on a separate return basis;
(1)(b) combining income or loss of the members included in the combined report; and
(1)(c) making appropriate eliminations and adjustments between members included in the combined report.
(2)For purposes of this section, if an entity does not calculate federal taxable income, then unadjusted income shall be calculated based on the applicable federal tax laws.
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Legislative History
Amended by Chapter 83, 1994 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.