Utah Code — Title 59 (Revenue and Taxation)
Utah Code § 59-10-125
Adjustment after change of accounting method
# (1)
If a taxpayer's method of accounting is changed, other than from an accrual to an installment method, any additional tax that results from adjustments determined to be necessary solely by reason of the change may not be greater than if those adjustments were ratably allocated and included for the taxable year of the change and the preceding taxable years, not in excess of two, during which the taxpayer used the method of accounting from which the change is made.
# (2)
If a taxpayer's method of accounting is changed from an accrual to an installment method, any additional tax for the taxable year of the change in the method of accounting and for any subsequent taxable year that is attributable to the receipt of installment payments properly accrued in a prior taxable year, shall be reduced by the portion of tax for any prior taxable year attributable to the accrual of such installment payments, under rules prescribed by the commission in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.
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In this chapter (40 sections)
- 59-10-103 · Definitions
- 59-10-103.1 · Information to be contained on individual income tax…
- 59-10-104 · Tax basis -- Tax rate -- Exemption
- 59-10-104.1 · Exemption from taxation
- 59-10-110 · Disallowance of federal tax credits
- 59-10-114 · Additions to and subtractions from adjusted gross income of…
- 59-10-115 · Adjustments to adjusted gross income
- 59-10-116 · Tax on nonresident individual -- Calculation -- Exemption
- 59-10-116.1 · Exemption for out-of-state employee
- 59-10-117 · State taxable income derived from Utah sources
- 59-10-117.5 · Nonresident individual wage exemption
- 59-10-118 · Division of income for tax purposes
- 59-10-119 · Returns by husband and wife if husband or wife is a…
- 59-10-120 · Change of status as resident or nonresident
- 59-10-121 · Proration when two returns required
- 59-10-122 · Taxable year
- 59-10-123 · Accounting method
- 59-10-124 · Adjustments between taxable years after change in…
- 59-10-125 · Adjustment after change of accounting method
- 59-10-126 · Business entities not subject to tax -- Exceptions
- 59-10-136 · Domicile
- 59-10-137 · Review of credits allowed under this chapter
- 59-10-201 · Taxation of resident trusts and estates
- 59-10-201.1 · State taxable income of a resident estate or trust defined
- 59-10-202 · Additions to and subtractions from unadjusted income of a…
- 59-10-204 · State taxable income of a nonresident estate or trust
- 59-10-205 · Tax on nonresident estate or trust
- 59-10-207 · Share of a nonresident estate or trust and beneficiaries in…
- 59-10-209.1 · Adjustments to unadjusted income
- 59-10-210 · Fiduciary adjustments
- 59-10-401 · Definitions
- 59-10-402 · Requirement of withholding -- Exceptions
- 59-10-403 · Circumstances under which an employer is not required to…
- 59-10-404 · Extension of withholding to payments other than wages
- 59-10-405 · Voluntary withholding agreements
- 59-10-405.5 · Definitions -- Withholding tax license requirements --…
- 59-10-406 · Collection and payment of tax -- Forms filed electronically
- 59-10-407 · Withholding tax prepayments
- 59-10-408 · Withholding rules -- Agreements with federal government
- 59-10-501 · Rulemaking authority -- Federal income tax return…