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Utah Code Title 63N. Economic Opportunity Act § 63N-2-809. Issuance of tax credit certificates

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

(1) For a tax credit applicant that seeks to claim a tax credit, the office may issue a tax credit certificate to the tax credit applicant:

(a) for the first taxable year for which the tax credit applicant qualifies for the tax credit and enters into an agreement with the office;

(b) for two taxable years immediately following the taxable year described in Subsection (1)(a); and

(c) for the seven taxable years immediately following the last of the two taxable years described in Subsection (1)(b) if:

(i) the agreement with the office described in Section 63N-2-808 includes a provision that the tax credit applicant will make new capital expenditures of at least $1,000,000,000 in the state; and

(ii) the tax credit applicant makes new capital expenditures of at least $1,000,000,000 in the state in accordance with the agreement with the office described in Section 63N-2-808.

(2) The office shall provide a duplicate copy of each tax credit certificate to the State Tax Commission.

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Cite this article: FindLaw.com - Utah Code Title 63N. Economic Opportunity Act § 63N-2-809. Issuance of tax credit certificates - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-63n-economic-opportunity-act/ut-code-sect-63n-2-809/

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