2006 Utah Code - 59-7-105 — Additions to unadjusted income.

     59-7-105.   Additions to unadjusted income.
     In computing adjusted income the following amounts shall be added to unadjusted income:
     (1) interest from bonds, notes, and other evidences of indebtedness issued by any state of the United States, including any agency and instrumentality of a state of the United States;
     (2) the amount of any deduction taken on a corporation's federal return for taxes paid by a corporation:
     (a) to Utah for taxes imposed by this chapter; and
     (b) to another state of the United States, a foreign country, a United States possession, or the Commonwealth of Puerto Rico for taxes imposed for the privilege of doing business, or exercising its corporate franchise, including income, franchise, corporate stock and business and occupation taxes;
     (3) the safe harbor lease adjustment required under Subsections 59-7-111(1)(a) and (2)(a);
     (4) capital losses that have been deducted on a Utah corporate return in previous years;
     (5) any deduction on the federal return that has been previously deducted on the Utah return;
     (6) the amount of contributions claimed as a tax credit pursuant to Section 59-7-602;
     (7) the amount of the deduction taken pursuant to Section 59-7-603 for sophisticated technological equipment;
     (8) charitable contributions, to the extent deducted on the federal return when determining federal taxable income;
     (9) the amount of gain or loss determined under Section 59-7-114 relating to a target corporation under Section 338, Internal Revenue Code, unless such gain or loss has already been included in the unadjusted income of the target corporation;
     (10) the amount of gain or loss determined under Section 59-7-115 relating to corporations treated for federal purposes as having disposed of its assets under Section 336(e), Internal Revenue Code, unless such gain or loss has already been included in the unadjusted income of the target corporation;
     (11) adjustments to gains, losses, depreciation expense, amortization expense, and similar items due to a difference between basis for federal purposes and basis as computed under Section 59-7-107; and
     (12) the amount disbursed to an account owner under Title 53B, Chapter 8a, Higher Education Savings Incentive Program, to the extent deducted on a Utah return in previous years and not used for qualified higher education costs of the beneficiary, in the year in which the amount is disbursed.

Amended by Chapter 109, 2005 General Session