Utah Code § 59-7-111 — Safe harbor lease provisions

(1)
(a)
For purchasers or lessors of safe harbor leases, the following additions shall be made to unadjusted income:
(i)
interest expense; and
(ii)
depreciation claimed on safe harbor lease property.
(b)
For purchasers or lessors of safe harbor leases, the following subtractions shall be made from unadjusted income:
(i)
rental income; and
(ii)
amortization of the purchase price of tax benefits.
(2)
(a)
For sellers or lessees of safe harbor leases the following additions shall be made from unadjusted income:
(i)
the amount of gain on the sale of federal tax benefits; and
(ii)
rental expense on safe harbor lease property.
(b)
For sellers or lessees of safe harbor leases the following subtractions shall be made to unadjusted income:
(i)
interest income; and
(ii)
depreciation on safe harbor lease property.
Repealed and Re-