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Utah Code Title 59. Revenue and Taxation § 59-7-112. Installment sales

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) Except as provided in Subsections (2) and (3), installment sales shall be governed by Sections 453, 453A, and 453B, Internal Revenue Code.  1

(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.

1 See 26 U.S.C.A. §§ 453, 453A and 453B.
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Cite this article: FindLaw.com - Utah Code Title 59. Revenue and Taxation § 59-7-112. Installment sales - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-59-revenue-and-taxation/ut-code-sect-59-7-112/

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