59-10-123 - Accounting method. - Utah Statutes

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Statutes > Utah > Title-59 > Chapter-10 > 59-10-123

59-10-123. Accounting method.
(1) For purposes of a tax imposed by this chapter, a resident or nonresident individual'sor resident or nonresident estate's or trust's method of accounting shall be the same as the methodof accounting the resident or nonresident individual or resident or nonresident estate or trust usesfor federal income tax purposes.
(2) If a resident or nonresident individual's or resident or nonresident estate's or trust'smethod of accounting is changed for federal income tax purposes, the resident or nonresidentindividual's or resident or nonresident estate's or trust's method of accounting shall be changed inthe same manner:
(a) for purposes of a tax imposed by this chapter; and
(b) for any taxable year for which the change in the method of accounting is made forfederal income tax purposes.

Amended by Chapter 389, 2008 General Session

State Codes and Statutes

Statutes > Utah > Title-59 > Chapter-10 > 59-10-123

59-10-123. Accounting method.
(1) For purposes of a tax imposed by this chapter, a resident or nonresident individual'sor resident or nonresident estate's or trust's method of accounting shall be the same as the methodof accounting the resident or nonresident individual or resident or nonresident estate or trust usesfor federal income tax purposes.
(2) If a resident or nonresident individual's or resident or nonresident estate's or trust'smethod of accounting is changed for federal income tax purposes, the resident or nonresidentindividual's or resident or nonresident estate's or trust's method of accounting shall be changed inthe same manner:
(a) for purposes of a tax imposed by this chapter; and
(b) for any taxable year for which the change in the method of accounting is made forfederal income tax purposes.

Amended by Chapter 389, 2008 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-59 > Chapter-10 > 59-10-123

59-10-123. Accounting method.
(1) For purposes of a tax imposed by this chapter, a resident or nonresident individual'sor resident or nonresident estate's or trust's method of accounting shall be the same as the methodof accounting the resident or nonresident individual or resident or nonresident estate or trust usesfor federal income tax purposes.
(2) If a resident or nonresident individual's or resident or nonresident estate's or trust'smethod of accounting is changed for federal income tax purposes, the resident or nonresidentindividual's or resident or nonresident estate's or trust's method of accounting shall be changed inthe same manner:
(a) for purposes of a tax imposed by this chapter; and
(b) for any taxable year for which the change in the method of accounting is made forfederal income tax purposes.

Amended by Chapter 389, 2008 General Session