Utah § 48-5-406 - Taxation. (Renumbered 10/1/2026)

Full text of Utah Utah Code § 48-5-406 — Taxation. (Renumbered 10/1/2026), with citation guidance and answers to common questions.

§ 48-5-406. Taxation. (Renumbered 10/1/2026)

Effective 1/1/2024
Renumbered 10/1/2026
48-5-406.  Taxation.
(1) If a decentralized autonomous organization recognized by this act is eligible to elect to be classified as a corporation for federal tax purposes, and the decentralized autonomous organization makes that election, the decentralized autonomous organization shall be subject to the provisions of Title 59, Chapter 7, Corporate Franchise and Income Taxes.
(2)
(a) Unless the decentralized autonomous organization makes the election described in Subsection (1), a decentralized autonomous organization recognized by this act shall be classified as a partnership for tax purposes and subject to the provisions of Title 59, Chapter 10, Part 14, Pass-Through Entities and Pass-Through Entity Taxpayers Act.
(b) For purposes of taxation, a decentralized autonomous organization shall allocate the distributive share of income, gain, loss, deduction, and credit derived from the decentralized autonomous organization's activities, to each member of the decentralized autonomous organization in proportion to the member's membership interest in the entity.


Renumbered and Amended by Chapter 92, 2026 General Session
Enacted by Chapter 85, 2023 General Session

Source: official Utah text · Last verified 2026-08-27

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Frequently Asked Questions About Utah § 48-5-406

What does Utah Code § 48-5-406 cover?

Section 48-5-406 ("Taxation. (Renumbered 10/1/2026)") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Utah § 48-5-406?

A common citation format is "Utah Code § 48-5-406" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Utah law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.

How does Utah § 48-5-406 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Utah.