2022 Utah Code
Title 59 - Revenue and Taxation
Chapter 12 - Sales and Use Tax Act
Part 1 - Tax Collection
Section 104.3 - Credit for certain repossessions of a motor vehicle.

Universal Citation: UT Code § 59-12-104.3 (2022)
59-12-104.3. Credit for certain repossessions of a motor vehicle.
  • (1)
    • (a) Subject to Subsections (2) and (3), a seller that collects a tax under this chapter on the sale of a motor vehicle may claim a credit for a tax under this chapter for a motor vehicle that:
      • (i) has been repossessed; and
      • (ii) that the seller resells.
    • (b) A seller of a motor vehicle other than the seller that collects a tax under this chapter on the sale of that motor vehicle may claim a credit for a tax under this chapter:
      • (i) for a motor vehicle that the seller:
        • (A) repossessed; and
        • (B) resells; and
      • (ii) if the seller that collected the tax under this chapter on that motor vehicle:
        • (A) is no longer doing business in this state; and
        • (B) does not owe a tax under this chapter.
  • (2) The amount of the credit allowed by Subsection (1) is equal to the product of:
    • (a) the portion of the motor vehicle's purchase price that:
      • (i) was subject to a tax under this chapter; and
      • (ii) remains unpaid after the motor vehicle is resold; and
    • (b) the sum of the tax rates imposed:
      • (i) under this chapter;
      • (ii) on the motor vehicle's purchase price; and
      • (iii) on the date the motor vehicle was purchased by the person that owns the motor vehicle at the time of the repossession.
  • (3) Except as provided in Subsection (4), if a seller recovers any portion of a motor vehicle's unpaid purchase price that is used to calculate a credit allowed by Subsection (1)(b), the seller shall report and remit a tax under this chapter to the commission:
    • (a) on the portion of the motor vehicle's unpaid purchase price that:
      • (i) the seller recovers; and
      • (ii) is used to calculate the credit allowed by Subsection (1)(b); and
    • (b) on a return filed for the time period for which the portion of the motor vehicle's unpaid purchase price is recovered.
  • (4) A credit under this section may not be reduced by any amount of a motor vehicle's unpaid purchase price that a seller recovers as a result of reselling the vehicle, regardless of whether that amount is included in calculating a credit under this section.


Amended by Chapter 9, 2007 General Session
Amended by Chapter 120, 2007 General Session
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