Utah § 59-10-1403 - Income tax treatment of a pass-through entity -- Returns -- Classification same as under Internal Revenue Code.

Full text of Utah Utah Code § 59-10-1403 — Income tax treatment of a pass-through entity -- Returns -- Classification same as under Internal Revenue Code., with citation guidance and answers to common questions.

§ 59-10-1403. Income tax treatment of a pass-through entity -- Returns -- Classification same as under Internal Revenue Code.

Effective 1/1/2024
59-10-1403.  Income tax treatment of a pass-through entity -- Returns -- Classification same as under Internal Revenue Code.
(1)Subject to Subsection (3) and except as provided in Subsection 59-10-1403.2(2), a pass-through entity is not subject to a tax imposed by this chapter.
(2)Except as provided in Section 59-10-1403.3, the income, gain, loss, deduction, or credit of a pass-through entity shall be passed through to one or more pass-through entity taxpayers as provided in this part.
(3)A pass-through entity is subject to the return filing requirements of Sections 59-10-507, 59-10-514, and 59-10-516.
(4)For purposes of taxation under this title, a pass-through entity that transacts business in the state shall be classified in the same manner as the pass-through entity is classified for federal income tax purposes.
(5)
(a)If a change is made in a pass-through entity's net income or loss on the pass-through entity's federal income tax return because of an action of the federal government, the pass-through entity shall file with the commission within 90 days after the date of a final determination of the action:
(i)a copy of the pass-through entity's amended federal income tax return or federal adjustment; and
(ii)an amended state income tax return that conforms with the changes made in the pass-through entity's amended federal income tax return.
(b)If a change is made in a pass-through entity's net income on the pass-through entity's federal income tax return because the pass-through entity files an amended federal income tax return, the pass-through entity shall file with the commission, within 90 days after the date the taxpayer files the amended federal income tax return:
(i)a copy of the pass-through entity's amended federal income tax return; and
(ii)an amended state income tax return that conforms with the changes made in the pass-through entity's amended federal income tax return.
(6)
(a)A pass-through entity subject to the return filing requirements under Subsection (3), shall report on the pass-through entity's return:
(i)whether the entity has filed a current annual report with the Division of Corporations; and
(ii)the entity's commerce entity number.
(b)Subsection (6)(a) does not apply to an individual, estate, or trust.


Amended by Chapter 232, 2024 General Session

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

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Frequently Asked Questions About Utah § 59-10-1403

What does Utah Code § 59-10-1403 cover?

Section 59-10-1403 ("Income tax treatment of a pass-through entity -- Returns -- Classification same as under Internal Revenue Code.") 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.

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Is this the official text of Utah law?

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