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2021 Utah Code
Title 59 - Revenue and Taxation
Chapter 7 - Corporate Franchise and Income Taxes
Part 1 - Corporate Tax Generally
Section 113 - Allocation of income and deductions between several corporations controlled by same interests.
Universal Citation:
UT Code § 59-7-113 (2021)
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59-7-113. Allocation of income and deductions between several corporations controlled by same interests.
If two or more corporations (whether or not organized or doing business in this state, and whether or not affiliated) are owned or controlled directly or indirectly by the same interests, the commission is authorized to distribute, apportion, or allocate gross income or deductions between or among such corporations, if it determines that such distribution, apportionment, or allocation is necessary in order to prevent evasion of taxes or clearly to reflect the income of any of such corporations.
Repealed and Re-enacted by Chapter 169, 1993 General Session
If two or more corporations (whether or not organized or doing business in this state, and whether or not affiliated) are owned or controlled directly or indirectly by the same interests, the commission is authorized to distribute, apportion, or allocate gross income or deductions between or among such corporations, if it determines that such distribution, apportionment, or allocation is necessary in order to prevent evasion of taxes or clearly to reflect the income of any of such corporations.
Repealed and Re-enacted by Chapter 169, 1993 General Session
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