Utah § 59-12-104.3 - Credit for certain repossessions of a motor vehicle.

Full text of Utah Utah Code § 59-12-104.3 — Credit for certain repossessions of a motor vehicle., with citation guidance and answers to common questions.

§ 59-12-104.3. Credit for certain repossessions of a motor vehicle.

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

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

Frequently Asked Questions About Utah § 59-12-104.3

What does Utah Code § 59-12-104.3 cover?

Section 59-12-104.3 ("Credit for certain repossessions of a motor vehicle.") 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 § 59-12-104.3?

A common citation format is "Utah Code § 59-12-104.3" (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 § 59-12-104.3 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

Official text of § 59-12-104.3 at the Utah source

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