59-10-1018 - Definitions -- Nonrefundable taxpayer tax credits. - Utah Statutes

59-10-1018. Definitions -- Nonrefundable taxpayer tax credits.
(1) As used in this section:
(a) "Head of household filing status" means a head of household, as defined in Section2(b), Internal Revenue Code, who files a single federal individual income tax return for thetaxable year.
(b) "Joint filing status" means:
(i) a husband and wife who file a single return jointly under this chapter for a taxableyear; or
(ii) a surviving spouse, as defined in Section 2(a), Internal Revenue Code, who files asingle federal individual income tax return for the taxable year.
(c) "Single filing status" means:
(i) a single individual who files a single federal individual income tax return for thetaxable year; or
(ii) a married individual who:
(A) does not file a single federal individual income tax return jointly with that marriedindividual's spouse for the taxable year; and
(B) files a single federal individual income tax return for the taxable year.
(2) Except as provided in Section 59-10-1002.2, and subject to Subsections (3) through(5), a claimant may claim a nonrefundable tax credit against taxes otherwise due under this partequal to the sum of:
(a) (i) for a claimant that deducts the standard deduction on the claimant's federalindividual income tax return for the taxable year, 6% of the amount the claimant deducts asallowed as the standard deduction on the claimant's federal individual income tax return for thattaxable year; or
(ii) for a claimant that itemizes deductions on the claimant's federal individual incometax return for the taxable year, the product of:
(A) the difference between:
(I) the amount the claimant deducts as allowed as an itemized deduction on theclaimant's federal individual income tax return for that taxable year; and
(II) any amount of state or local income taxes the claimant deducts as allowed as anitemized deduction on the claimant's federal individual income tax return for that taxable year;and
(B) 6%; and
(b) the product of:
(i) 75% of the total amount the claimant deducts as allowed as a personal exemptiondeduction on the claimant's federal individual income tax return for that taxable year; and
(ii) 6%.
(3) A claimant may not carry forward or carry back a tax credit under this section.
(4) The tax credit allowed by Subsection (2) shall be reduced by $.013 for each dollar bywhich a claimant's state taxable income exceeds:
(a) for a claimant who has a single filing status, $12,000;
(b) for a claimant who has a head of household filing status, $18,000; or
(c) for a claimant who has a joint filing status, $24,000.
(5) (a) For taxable years beginning on or after January 1, 2009, the commission shallincrease or decrease the following dollar amounts by a percentage equal to the percentage

difference between the consumer price index for the preceding calendar year and the consumerprice index for calendar year 2007:
(i) the dollar amount listed in Subsection (4)(a); and
(ii) the dollar amount listed in Subsection (4)(b).
(b) After the commission increases or decreases the dollar amounts listed in Subsection(5)(a), the commission shall round those dollar amounts listed in Subsection (5)(a) to the nearestwhole dollar.
(c) After the commission rounds the dollar amounts as required by Subsection (5)(b), thecommission shall increase or decrease the dollar amount listed in Subsection (4)(c) so that thedollar amount listed in Subsection (4)(c) is equal to the product of:
(i) the dollar amount listed in Subsection (4)(a); and
(ii) two.
(d) For purposes of Subsection (5)(a), the commission shall calculate the consumer priceindex as provided in Sections 1(f)(4) and 1(f)(5), Internal Revenue Code.

Renumbered and Amended by Chapter 389, 2008 General Session