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Utah Code — Title 59 (Revenue and Taxation)

Utah Code § 59-7-502

Change of taxable year or accounting period

Official textle.utah.gov

# (1)

If a corporation changes its taxable year for federal income tax purposes, the new taxable year shall become the corporation's taxable year for Utah corporate franchise or income tax purposes.

# (2)

If a corporation which does not file a federal tax return changes its accounting period, the new accounting period shall become the corporation's taxable year for Utah corporate franchise or income tax purposes if the change is approved by the commission.
Renumbered and

Last amended: Amended by Chapter 169, 1993 General Session

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In this chapter (40 sections)
  1. 59-7-309 · Allocation of interest and dividends
  2. 59-7-310 · Allocation of patent and copyright royalties
  3. 59-7-311 · Method of apportionment of business income
  4. 59-7-312 · Property factor for apportionment of business income --…
  5. 59-7-313 · Valuation of property for inclusion in property factor
  6. 59-7-314 · Averaging property values for inclusion in property factors
  7. 59-7-315 · Payroll factor for apportionment of business income --…
  8. 59-7-316 · Determination of compensation for inclusion in payroll factor
  9. 59-7-317 · Sales factor for apportionment of business income --…
  10. 59-7-318 · Sales of tangible personal property
  11. 59-7-319 · Circumstances under which a receipt, rent, royalty, or sale…
  12. 59-7-320 · Equitable adjustment of standard allocation or apportionment
  13. 59-7-321 · Construction
  14. 59-7-401 · Determining threshold level of business activity for…
  15. 59-7-402 · Water's edge combined report
  16. 59-7-403 · Worldwide combined report
  17. 59-7-404 · Calculation of unadjusted income for combined reporting
  18. 59-7-404.5 · Adjustment to apportionment factors for corporations in a…
  19. 59-7-405 · Commission empowered to make rules
  20. 59-7-501 · Accounting periods -- Methods of accounting
  21. 59-7-502 · Change of taxable year or accounting period
  22. 59-7-503 · Return where period changed
  23. 59-7-504 · Estimated tax payments -- Penalty -- Waiver
  24. 59-7-505 · Returns required -- When due -- Extension of time --…
  25. 59-7-507 · Payment of tax
  26. 59-7-508 · Audit of returns
  27. 59-7-509 · Failure to file return -- Penalty
  28. 59-7-510 · Deficiency -- Interest
  29. 59-7-511 · Penalty added to underpayments
  30. 59-7-512 · Addition to tax in case of nonpayment
  31. 59-7-513 · Interest when time for payment extended
  32. 59-7-514 · Extension of time to pay deficiency
  33. 59-7-515 · Interest when deficiency extended
  34. 59-7-519 · Period of limitation for making assessments -- Change,…
  35. 59-7-522 · Overpayments
  36. 59-7-528 · Failure to make return or supply information -- Penalty
  37. 59-7-529 · General violations and penalties
  38. 59-7-530 · Power to waive penalties or interest
  39. 59-7-531 · Venue of offenses -- Evidence
  40. 59-7-532 · Revenue received by commission -- Deposit with state…
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