Utah Statutes
§ 59-7-625 — Nonrefundable tax credit for a donation to the Carson Smith Opportunity Scholarship Program.
Utah·Title 59 Revenue and Taxation·Ch. 59-7 Corporate Franchise and Income Taxes·Part 59-7-6 Credits
(1)A taxpayer that makes a donation to the Carson Smith Opportunity Scholarship Program established in Section 53E-7-402 may claim a nonrefundable tax credit equal to 100% of the amount stated on a tax credit certificate issued in accordance with Section 53E-7-407.
(2)If the amount of a tax credit listed on the tax credit certificate exceeds a taxpayer's liability under this chapter for a taxable year, the taxpayer:
(2)(a) may carry forward the amount of the tax credit exceeding the liability for a period that does not exceed the next three taxable years; and
(2)(b) may carry back the amount of the tax credit that exceeds the taxpayer's tax liability to the previous taxable year.
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Utah § 59-7-625 (Nonrefundable tax credit for a donation to the Carson Smith Opportunity Scholarship Program.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Chapter 466, 2024 General Session
Nearby Sections
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§ 59-1-1001
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Audit interviews.§ 59-1-1003
Penalty waiver.§ 59-1-1004
Installment payments.§ 59-1-1005
Suits against commission and its employees.§ 59-1-101
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Definitions.