Utah Code § 59-10-1403 : Revenue and Taxation — Individual Income Tax Act — Pass-Through Entities and Pass-Through Entity Taxpayers Act —10-1403 - Income tax treatment of a pass-through entity - Returns - Classification same as under Internal Revenue Code
(1) Subject to Subsection (3) and except as provided in Subsection 59-10-1403.2(2), a pass-through entity is not subject to a tax imposed by this chapter.
(2) Except as provided in Section 59-10-1403.3, the income, gain, loss, deduction, or credit of a pass-through entity shall be passed through to one or more pass-through entity taxpayers as provided in this part.
(3) A pass-through entity is subject to the return filing requirements of Sections 59-10-507, 59-10-514, and 59-10-516.
(4) For purposes of taxation under this title, a pass-through entity that transacts business in the state shall be classified in the same manner as the pass-through entity is classified for federal income tax purposes.
Utah Code § 59-10-1403
Amended by Chapter 238, 2022 General Session ,§ 7, eff. 3/23/2022, with retrospective operation for a taxable year beginning on or after January 1, 2022.
Amended by Chapter 367, 2021 General Session ,§ 36, eff. 5/5/2021.
Amended by Chapter 270, 2017 General Session ,§ 2, eff. 5/9/2017.
Amended by Chapter 87, 2016 General Session ,§ 5, eff. 5/10/2016, op. 1/1/2016.
Amended by Chapter 312, 2009 General Session