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Utah Code — Title 59 (Revenue and Taxation)

Utah Code § 59-10-126

Business entities not subject to tax -- Exceptions

Official textle.utah.gov

# (1)

A business entity that is taxable as a corporation for federal income tax purposes:

# (a)

may not be subject to the tax imposed by this chapter; and

# (b)

is subject to Chapter 7, Corporate Franchise and Income Taxes.

# (2)

A business entity that is exempt from federal income taxation is exempt from the tax imposed by this chapter.

# (3)

Notwithstanding Subsection (2), if a business entity that is exempt from federal income taxation has income that is subject to federal income taxation, that income is subject to taxation under Chapter 7, Corporate Franchise and Income Taxes.

Last amended: Amended by Chapter 389, 2008 General Session

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In this chapter (40 sections)
  1. 59-10-103 · Definitions
  2. 59-10-103.1 · Information to be contained on individual income tax…
  3. 59-10-104 · Tax basis -- Tax rate -- Exemption
  4. 59-10-104.1 · Exemption from taxation
  5. 59-10-110 · Disallowance of federal tax credits
  6. 59-10-114 · Additions to and subtractions from adjusted gross income of…
  7. 59-10-115 · Adjustments to adjusted gross income
  8. 59-10-116 · Tax on nonresident individual -- Calculation -- Exemption
  9. 59-10-116.1 · Exemption for out-of-state employee
  10. 59-10-117 · State taxable income derived from Utah sources
  11. 59-10-117.5 · Nonresident individual wage exemption
  12. 59-10-118 · Division of income for tax purposes
  13. 59-10-119 · Returns by husband and wife if husband or wife is a…
  14. 59-10-120 · Change of status as resident or nonresident
  15. 59-10-121 · Proration when two returns required
  16. 59-10-122 · Taxable year
  17. 59-10-123 · Accounting method
  18. 59-10-124 · Adjustments between taxable years after change in…
  19. 59-10-125 · Adjustment after change of accounting method
  20. 59-10-126 · Business entities not subject to tax -- Exceptions
  21. 59-10-136 · Domicile
  22. 59-10-137 · Review of credits allowed under this chapter
  23. 59-10-201 · Taxation of resident trusts and estates
  24. 59-10-201.1 · State taxable income of a resident estate or trust defined
  25. 59-10-202 · Additions to and subtractions from unadjusted income of a…
  26. 59-10-204 · State taxable income of a nonresident estate or trust
  27. 59-10-205 · Tax on nonresident estate or trust
  28. 59-10-207 · Share of a nonresident estate or trust and beneficiaries in…
  29. 59-10-209.1 · Adjustments to unadjusted income
  30. 59-10-210 · Fiduciary adjustments
  31. 59-10-401 · Definitions
  32. 59-10-402 · Requirement of withholding -- Exceptions
  33. 59-10-403 · Circumstances under which an employer is not required to…
  34. 59-10-404 · Extension of withholding to payments other than wages
  35. 59-10-405 · Voluntary withholding agreements
  36. 59-10-405.5 · Definitions -- Withholding tax license requirements --…
  37. 59-10-406 · Collection and payment of tax -- Forms filed electronically
  38. 59-10-407 · Withholding tax prepayments
  39. 59-10-408 · Withholding rules -- Agreements with federal government
  40. 59-10-501 · Rulemaking authority -- Federal income tax return…
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