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2021 Utah Code
Title 59 - Revenue and Taxation
Chapter 7 - Corporate Franchise and Income Taxes
Part 6 - Credits
Section 621 - Nonrefundable rural job creation tax credit.
Universal Citation:
UT Code § 59-7-621 (2021)
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Effective 7/1/2021
59-7-621. Nonrefundable rural job creation tax credit.
Amended by Chapter 282, 2021 General Session
59-7-621. Nonrefundable rural job creation tax credit.
- (1) As used in this section, "office" means the Governor's Office of Economic Opportunity created in Section 63N-1a-301.
- (2) Subject to the other provisions of this section, a taxpayer may claim a nonrefundable tax credit for rural job creation as provided in this section.
- (3) The tax credit under this section is the amount listed as the tax credit amount on a tax credit certificate that the office issues under Title 63N, Chapter 4, Part 3, Utah Rural Jobs Act, to the taxpayer for the taxable year.
- (4) A taxpayer may carry forward a tax credit under this section for the next seven taxable years if the amount of the tax credit exceeds the taxpayer's tax liability under this chapter for the taxable year in which the taxpayer claims the tax credit.
Amended by Chapter 282, 2021 General Session
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