State Codes and Statutes

Statutes > Utah > Title-63m > Chapter-01 > 63m-1-1802

63M-1-1802. Definitions.
As used in this part:
(1) "Board" means the Governor's Office of Economic Development Board.
(2) "Dollars left in the state" means expenditures made in the state for a state-approvedproduction, including:
(a) an expenditure that is subject to:
(i) a corporate franchise or income tax under Title 59, Chapter 7, Corporate Franchiseand Income Taxes;
(ii) an individual income tax under Title 59, Chapter 10, Individual Income Tax Act; and
(iii) a sales and use tax under Title 59, Chapter 12, Sales and Use Tax Act,notwithstanding any sales and use tax exemption allowed by law;
(b) payments made to a nonresident only to the extent of the income tax paid to the stateon the payments, the amount of per diems paid, and other direct reimbursements transacted in thestate; and
(c) payments made to a payroll company or loan-out corporation that is registered to dobusiness in the state, only to the extent of the amount of withholding under Section 59-10-402.
(3) "Loan-out corporation" means a corporation owned by one or more artists thatprovides services of the artists to a third party production company.
(4) "Motion picture company" means a company engaged in the production of:
(a) motion pictures;
(b) television series; or
(c) made-for-television movies.
(5) "Motion picture incentive" means either a cash rebate from the Motion PictureIncentive Account or a refundable tax credit under Section 59-7-614.5 or 59-10-1108.
(6) "Office" means the Governor's Office of Economic Development.
(7) "Payroll company" means a business entity that handles the payroll and becomes theemployer of record for the staff, cast, and crew of a motion picture production.
(8) "Refundable tax credit" means a refundable motion picture tax credit authorizedunder Section 63M-1-1803 and claimed under Section 59-7-614.5 or 59-10-1108.
(9) "Restricted account" means the Motion Picture Incentive Account created in Section63M-1-1803.
(10) "State-approved production" means a motion picture, television series, ormade-for-television movie approved by the administrator and ratified by the board that isproduced in the state by a motion picture company.
(11) "Tax credit amount" means the amount the office lists as a tax credit on a tax creditcertificate for a taxable year.
(12) "Tax credit certificate" means a certificate issued by the office that:
(a) lists the name of the applicant;
(b) lists the applicant's taxpayer identification number;
(c) lists the amount of tax credit that the office awards the applicant for the taxable year;and
(d) may include other information as determined by the office.

Amended by Chapter 278, 2010 General Session