Utah Code 63N-2-202. Definitions
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As used in this part:
(1) “Business entity” means an entity, sole proprietorship, or individual:
Terms Used In Utah Code 63N-2-202
- Business entity: means an entity, sole proprietorship, or individual:(1)(a) including a claimant, estate, or trust; and(1)(b) under which or by whom business is conducted or transacted. See Utah Code 63N-2-202
- City: includes , depending on population, a metro township as defined in Section
10-3c-102 . See Utah Code 68-3-12.5- Claimant: means a resident or nonresident person that has:
(2)(a) Utah taxable income as defined in Section 59-7-101; or(2)(b) state taxable income under Title 59, Chapter 10, Part 1, Determination and Reporting of Tax Liability and Information. See Utah Code 63N-2-202- Estate: means a nonresident estate or a resident estate that has state taxable income under Title 59, Chapter 10, Part 2, Trusts and Estates. See Utah Code 63N-2-202
- 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- 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 business entity may:
(6)(a) claim:(6)(a)(i) as provided by statute; and(6)(a)(ii) in an amount that does not exceed the business entity's tax liability for a taxable year under:(6)(a)(ii)(A) Title 59, Chapter 7, Corporate Franchise and Income Taxes; or(6)(a)(ii)(B) Title 59, Chapter 10, Individual Income Tax Act; and(6)(b) carry forward or carry back:(6)(b)(i) if allowed by statute; and(6)(b)(ii) to the extent that the amount of the tax credit exceeds the business entity's tax liability for a taxable year under:(6)(b)(ii)(A) Title 59, Chapter 7, Corporate Franchise and Income Taxes; or(6)(b)(ii)(B) Title 59, Chapter 10, Individual Income Tax Act. See Utah Code 63N-2-202- Town: includes , depending on population, a metro township as defined in Section
10-3c-102 . See Utah Code 68-3-12.5- Trust: means a nonresident trust or a resident trust that has state taxable income under Title 59, Chapter 10, Part 2, Trusts and Estates. See Utah Code 63N-2-202
(1)(a) including a claimant, estate, or trust; and(1)(b) under which or by whom business is conducted or transacted.(2) “Claimant” means a resident or nonresident person that has:(2)(a) Utah taxable income as defined in Section 59-7-101; or(2)(b) state taxable income under Title 59, Chapter 10, Part 1, Determination and Reporting of Tax Liability and Information.(3) “County applicant” means the governing authority of a county that meets the requirements for designation as an enterprise zone under Section 63N-2-204.(4) “Estate” means a nonresident estate or a resident estate that has state taxable income under Title 59, Chapter 10, Part 2, Trusts and Estates.(5) “Municipal applicant” means the governing authority of a city or town that meets the requirements for designation as an enterprise zone under Section 63N-2-204.(6) “Nonrefundable tax credit” or “tax credit” means a tax credit that a business entity may:(6)(a) claim:(6)(a)(i) as provided by statute; and(6)(a)(ii) in an amount that does not exceed the business entity’s tax liability for a taxable year under:(6)(a)(ii)(A) Title 59, Chapter 7, Corporate Franchise and Income Taxes; or(6)(a)(ii)(B) Title 59, Chapter 10, Individual Income Tax Act; and(6)(b) carry forward or carry back:(6)(b)(i) if allowed by statute; and(6)(b)(ii) to the extent that the amount of the tax credit exceeds the business entity’s tax liability for a taxable year under:(6)(b)(ii)(A) Title 59, Chapter 7, Corporate Franchise and Income Taxes; or(6)(b)(ii)(B) Title 59, Chapter 10, Individual Income Tax Act.(7) “Tax incentives” or “tax benefits” means the nonrefundable tax credits described in Section 63N-2-213.(8) “Trust” means a nonresident trust or a resident trust that has state taxable income under Title 59, Chapter 10, Part 2, Trusts and Estates. - City: includes , depending on population, a metro township as defined in Section