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Utah Code — Title 59 (Revenue and Taxation)

Utah Code § 59-7-402

Water's edge combined report

Official textle.utah.gov

# (1)

Except as provided in Section 59-7-403, if any corporation listed in Subsection 59-7-101(40)(a) is doing business in Utah, the unitary group shall file a water's edge combined report.

# (2)

# (a)

A group of corporations that are not otherwise a unitary group may elect to file a water's edge combined report if each member of the group is:

(i) doing business in Utah;

(ii) part of the same affiliated group; and

(iii) qualified, under Section 1501, Internal Revenue Code, to file a federal consolidated return.

# (b)

Each corporation within the affiliated group that is doing business in Utah must consent to filing a combined report. If an affiliated group elects to file a combined report, each corporation within the affiliated group that is doing business in Utah must file a combined report.

# (c)

Corporations that elect to file a water's edge combined report under this section may not thereafter elect to file a separate return without the consent of the commission.

Last amended: Amended by Chapter 368, 2021 General Session

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In this chapter (40 sections)
  1. 59-7-302 · Definitions -- Determination of taxpayer status
  2. 59-7-303 · Apportionable income
  3. 59-7-305 · When taxable in another state
  4. 59-7-306 · Allocation of certain nonbusiness income
  5. 59-7-307 · Allocation of rents and royalties
  6. 59-7-308 · Allocation of capital gains and losses
  7. 59-7-309 · Allocation of interest and dividends
  8. 59-7-310 · Allocation of patent and copyright royalties
  9. 59-7-311 · Method of apportionment of business income
  10. 59-7-312 · Property factor for apportionment of business income --…
  11. 59-7-313 · Valuation of property for inclusion in property factor
  12. 59-7-314 · Averaging property values for inclusion in property factors
  13. 59-7-315 · Payroll factor for apportionment of business income --…
  14. 59-7-316 · Determination of compensation for inclusion in payroll factor
  15. 59-7-317 · Sales factor for apportionment of business income --…
  16. 59-7-318 · Sales of tangible personal property
  17. 59-7-319 · Circumstances under which a receipt, rent, royalty, or sale…
  18. 59-7-320 · Equitable adjustment of standard allocation or apportionment
  19. 59-7-321 · Construction
  20. 59-7-401 · Determining threshold level of business activity for…
  21. 59-7-402 · Water's edge combined report
  22. 59-7-403 · Worldwide combined report
  23. 59-7-404 · Calculation of unadjusted income for combined reporting
  24. 59-7-404.5 · Adjustment to apportionment factors for corporations in a…
  25. 59-7-405 · Commission empowered to make rules
  26. 59-7-501 · Accounting periods -- Methods of accounting
  27. 59-7-502 · Change of taxable year or accounting period
  28. 59-7-503 · Return where period changed
  29. 59-7-504 · Estimated tax payments -- Penalty -- Waiver
  30. 59-7-505 · Returns required -- When due -- Extension of time --…
  31. 59-7-507 · Payment of tax
  32. 59-7-508 · Audit of returns
  33. 59-7-509 · Failure to file return -- Penalty
  34. 59-7-510 · Deficiency -- Interest
  35. 59-7-511 · Penalty added to underpayments
  36. 59-7-512 · Addition to tax in case of nonpayment
  37. 59-7-513 · Interest when time for payment extended
  38. 59-7-514 · Extension of time to pay deficiency
  39. 59-7-515 · Interest when deficiency extended
  40. 59-7-519 · Period of limitation for making assessments -- Change,…
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