Utah Administrative Code
Topic - Governor
Title R357 - Economic Opportunity
Rule R357-7 - Utah Capital Investment Board
Section R357-7-11 - Claiming Tax Credits Represented by Tax Credit Redemption Certificates
Current through Bulletin 2024-06, March 15, 2024
(1) Once certified by the Board, the holder of a Tax Credit Redemption Certificate may present such Certificate to the Commission to claim a tax credit in accordance with the following provisions:
(2) There is no limitation on a Person:
(3) If a Person is not otherwise a Utah taxpayer, its taxable year, for purposes of the se rules, shall be considered to end annually on the same date that its tax year ends for United States federal income tax purposes. For a disregarded entity that is not otherwise a Utah taxpayer, such entity may designate any date on which its taxable year ends by stating such date on the Utah tax return on which it files its claim for refund.
(4) If the Designated Investor is a corporation or other business organization or entity included in a combined Utah state tax return, and such tax return claims a tax credit, the commission will treat such tax credit as a refundable credit for the combined group.