Utah § 59-10-115 - Adjustments to adjusted gross income.
Full text of Utah Utah Code § 59-10-115 — Adjustments to adjusted gross income., with citation guidance and answers to common questions.
§ 59-10-115. Adjustments to adjusted gross income.
Effective 5/10/2016 59-10-115.
Adjustments to adjusted gross income.
(1)
As used in this section:
(a)
"Net foreign source taxable income" means:
(i)
the amount calculated on line 17 of Internal Revenue Code Form 1116, Foreign Tax Credit; or
(ii)
if, for purposes of federal individual income taxes, the amount calculated on line 17 of Form 1116 is reported on a line other than line 17 of Form 1116, the amount on a line of a federal individual income tax form designated by the commission as being substantially similar to line 17 of the 2015 version of Form 1116.
(b)
"Pass-through entity taxpayer" means the same as that term is defined in Section 59-10-1402.
(2)
The commission shall allow an adjustment to adjusted gross income of a resident or nonresident individual if the resident or nonresident individual would otherwise:
(a)
receive a double tax benefit under this part; or
(b)
suffer a double tax detriment under this part.
(3)
(a)
For a pass-through entity taxpayer generating taxable income primarily from establishments classified in Code Section 33242, Metal Tank (Heavy Gauge) Manufacturing, of the 2002 or 2007 North American Industry Classification System of the federal Executive Office of the President, Office of Management and Budget, an adjustment described in Subsection (2) includes net foreign source taxable income generated from Metal Tank (Heavy Gauge) Manufacturing establishments.
(b)
The adjustment described in Subsection (3)(a) applies to a taxable year beginning on or after January 1, 2017.
Section 59-10-115 ("Adjustments to adjusted gross income.") 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 § 59-10-115?
A common citation format is "Utah Code § 59-10-115" (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 § 59-10-115 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.
