59-7-502 - Change of taxable year or accounting period. - Utah Statutes

59-7-502. Change of taxable year or accounting period.
(1) If a corporation changes its taxable year for federal income tax purposes, the newtaxable year shall become the corporation's taxable year for Utah corporate franchise or incometax purposes.
(2) If a corporation which does not file a federal tax return changes its accounting period,the new accounting period shall become the corporation's taxable year for Utah corporatefranchise or income tax purposes if the change is approved by the commission.

Renumbered and Amended by Chapter 169, 1993 General Session