59-10-1403 - Income tax treatment of a pass-through entity -- Returns -- Classification same as under Internal Revenue Code. - Utah Statutes

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59-10-1403. Income tax treatment of a pass-through entity -- Returns --Classification same as under Internal Revenue Code.
(1) Subject to Subsection (3), a pass-through entity is not subject to a tax imposed by thischapter.
(2) The income, gain, loss, deduction, or credit of a pass-through entity shall be passed throughto 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 Section 59-10-507.
(4) A pass-through entity that transacts business in the state shall be classified for purposes oftaxation under this title in the same manner as the pass-through entity is classified for federal income taxpurposes.

Amended by Chapter 312, 2009 General Session

State Codes and Statutes

Statutes > Utah > Title-59 > Chapter-10 > 59-10-1403

59-10-1403. Income tax treatment of a pass-through entity -- Returns --Classification same as under Internal Revenue Code.
(1) Subject to Subsection (3), a pass-through entity is not subject to a tax imposed by thischapter.
(2) The income, gain, loss, deduction, or credit of a pass-through entity shall be passed throughto 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 Section 59-10-507.
(4) A pass-through entity that transacts business in the state shall be classified for purposes oftaxation under this title in the same manner as the pass-through entity is classified for federal income taxpurposes.

Amended by Chapter 312, 2009 General Session

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State Codes and Statutes

Statutes > Utah > Title-59 > Chapter-10 > 59-10-1403

59-10-1403. Income tax treatment of a pass-through entity -- Returns --Classification same as under Internal Revenue Code.
(1) Subject to Subsection (3), a pass-through entity is not subject to a tax imposed by thischapter.
(2) The income, gain, loss, deduction, or credit of a pass-through entity shall be passed throughto 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 Section 59-10-507.
(4) A pass-through entity that transacts business in the state shall be classified for purposes oftaxation under this title in the same manner as the pass-through entity is classified for federal income taxpurposes.

Amended by Chapter 312, 2009 General Session