Utah Code Title 59. Revenue and Taxation § 59-10-115. Adjustments to adjusted gross income

(a) “Net foreign source taxable income” means:

(b) “Pass-through entity taxpayer” means the same as that term is defined in Section 59-10-1402.

(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.

(a) making the designation described in Subsection (1)(a)(ii), if necessary;  and

(b) allowing for the adjustment to adjusted gross income required by Subsection (2).