Terms Used In Utah Code 59-6-101

• Business entity: means a claimant that is a:
       (1)(a) C corporation;
       (1)(b) S corporation;
       (1)(c) general partnership;
       (1)(d) limited liability company;
       (1)(e) limited liability partnership;
       (1)(f) limited partnership; or
       (1)(g) business entity similar to Subsections (1)(c) through (f):

            (1)(g)(i) with respect to which the business entity's income or losses are divided among and passed through to taxpayers; and

            (1)(g)(ii) as defined by the commission by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act. See Utah Code 59-6-101
• claimant: means a resident or nonresident person. See Utah Code 59-6-101
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Estate: means a nonresident estate or a resident estate. See Utah Code 59-6-101
• Minerals: means :
       (4)(a) metalliferous minerals as defined in Section 59-2-102;
       (4)(b) nonmetalliferous minerals as defined in Section 59-2-102; or
       (4)(c) a combination of Subsections (4)(a) and (b). See Utah Code 59-6-101
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means :
       (24)(a) an individual;
       (24)(b) an association;
       (24)(c) an institution;
       (24)(d) a corporation;
       (24)(e) a company;
       (24)(f) a trust;
       (24)(g) a limited liability company;
       (24)(h) a partnership;
       (24)(i) a political subdivision;
       (24)(j) a government office, department, division, bureau, or other body of government; and
       (24)(k) any other organization or entity. See Utah Code 68-3-12.5
• Producer: means a person that:
       (5)(a) produces or extracts minerals from deposits in this state; or
       (5)(b) is the first purchaser of minerals produced or extracted from deposits in this state. See Utah Code 59-6-101
• State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
• Statute: A law passed by a legislature.
• tax credit: means a tax credit that a claimant, estate, or trust may claim:
       (6)(a) as provided by statute; and
       (6)(b) regardless of whether the claimant, estate, or trust has a tax liability:

            (6)(b)(i) for a tax imposed under:

                 (6)(b)(i)(A) Chapter 7, Corporate Franchise and Income Taxes;

                 (6)(b)(i)(B) Chapter 8, Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act; or

                 (6)(b)(i)(C) Chapter 10, Individual Income Tax Act; and

            (6)(b)(ii) for the taxable year for which the claimant, estate, or trust claims the tax credit. See Utah Code 59-6-101
• Taxable year: means the taxable year of a claimant, estate, or trust under:
       (7)(a) Chapter 7, Corporate Franchise and Income Taxes;
       (7)(b) Chapter 8, Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act; or
       (7)(c) Chapter 10, Individual Income Tax Act. See Utah Code 59-6-101
• Trust: means a nonresident trust or a resident trust. See Utah Code 59-6-101