Utah § 59-7-112 - Installment sales.
Full text of Utah Utah Code § 59-7-112 — Installment sales., with citation guidance and answers to common questions.
§ 59-7-112. Installment sales.
| (1) | Except as provided in Subsections (2) and (3), installment sales shall be governed by Sections 453, 453A, and 453B, Internal Revenue Code. |
| (2) | Installment sales entered into prior to January 1, 1994, shall be recognized as originally reported. |
| (3) | If a corporation is no longer required to file a Utah corporate return, any taxes owed by that corporation on installment sales entered into by that corporation shall accelerate and be due on the corporation's last return filed in Utah. |
Repealed and Re-enacted by Chapter 169, 1993 General Session
Frequently Asked Questions About Utah § 59-7-112
What does Utah Code § 59-7-112 cover?
Section 59-7-112 ("Installment sales.") 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 § 59-7-112?
A common citation format is "Utah Code § 59-7-112" (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 § 59-7-112 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.