Terms Used In Utah Code > Title 63N > Chapter 2 > Part 3 - Targeted Business Income Tax Credit in an Enterprise Zone

• Business applicant: means a business that:
       (1)(a) is a claimant, estate, or trust; and
       (1)(b) meets the criteria established in Section 63N-2-304. See Utah Code 63N-2-302
• claimant: means a resident person or a nonresident person. See Utah Code 63N-2-302
• Commission: means the Unified Economic Opportunity Commission created in Section 63N-1a-201. See Utah Code 63N-1a-102
• Community investment project: means a project that includes one or more of the following criteria in addition to the normal operations of the business applicant:
       (3)(a) significant new employment; or
       (3)(b) significant new capital development. See Utah Code 63N-2-302
• Enterprise zone: means an area within a county or municipality that has been designated as an enterprise zone by the office under Part 2, Enterprise Zone Act. See Utah Code 63N-2-302
• Estate: means a resident estate or a nonresident estate. See Utah Code 63N-2-302
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• 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
• Refundable 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, for the taxable year for which the claimant, estate, or trust claims the tax credit, the claimant, estate, or trust has a tax liability under:

            (6)(b)(i) Title 59, Chapter 7, Corporate Franchise and Income Taxes; or

            (6)(b)(ii) Title 59, Chapter 10, Individual Income Tax Act. See Utah Code 63N-2-302
• 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.
• Targeted business income tax credit: means a refundable tax credit available under this part. See Utah Code 63N-2-302
• Targeted business income tax credit eligibility certificate: means a document provided by the office to a business applicant before the applicant may claim a targeted business income tax credit under this part. See Utah Code 63N-2-302
• Trust: means a resident trust or a nonresident trust. See Utah Code 63N-2-302