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Utah Code — Title 59 (Revenue and Taxation)

Utah Code § 59-7-111

Safe harbor lease provisions

Official textle.utah.gov

# (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Repealed and Re-

Last amended: enacted by Chapter 169, 1993 General Session

Source: view the official text

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In this chapter (40 sections)
  1. 59-7-101 · Definitions
  2. 59-7-102 · Exemptions
  3. 59-7-103 · Chapter applicable to receivers, trustees in bankruptcy and…
  4. 59-7-104 · Tax -- Minimum tax
  5. 59-7-105 · Additions to unadjusted income
  6. 59-7-106 · Subtractions from unadjusted income
  7. 59-7-107 · Basis
  8. 59-7-108 · Distributions by corporations
  9. 59-7-109 · Charitable contributions
  10. 59-7-109.1 · Charitable contributions to the Carson Smith Opportunity…
  11. 59-7-110 · Utah net loss -- Carry forward -- Deduction
  12. 59-7-111 · Safe harbor lease provisions
  13. 59-7-112 · Installment sales
  14. 59-7-113 · Allocation of income and deductions between several…
  15. 59-7-114 · Section 338, Internal Revenue Code -- Elections
  16. 59-7-115 · Section 336(e), Internal Revenue Code -- Elections
  17. 59-7-116 · Taxation of regulated investment companies
  18. 59-7-116.5 · Real estate investment trusts
  19. 59-7-117 · Equitable adjustments
  20. 59-7-118 · Section 965, Internal Revenue Code -- Installment payments
  21. 59-7-159 · Review of credits allowed under this chapter
  22. 59-7-201 · Tax -- Minimum tax
  23. 59-7-203 · Computation of Utah taxable income
  24. 59-7-204 · Income attributed to sources within the state
  25. 59-7-205 · Applicability of Parts 5 and 6 of chapter
  26. 59-7-206 · Offsets against tax
  27. 59-7-207 · Corporations becoming subject to tax -- Assessment under…
  28. 59-7-208 · Provisions followed for purposes of tax collected
  29. 59-7-302 · Definitions -- Determination of taxpayer status
  30. 59-7-303 · Apportionable income
  31. 59-7-305 · When taxable in another state
  32. 59-7-306 · Allocation of certain nonbusiness income
  33. 59-7-307 · Allocation of rents and royalties
  34. 59-7-308 · Allocation of capital gains and losses
  35. 59-7-309 · Allocation of interest and dividends
  36. 59-7-310 · Allocation of patent and copyright royalties
  37. 59-7-311 · Method of apportionment of business income
  38. 59-7-312 · Property factor for apportionment of business income --…
  39. 59-7-313 · Valuation of property for inclusion in property factor
  40. 59-7-314 · Averaging property values for inclusion in property factors
Full table of contents →