No. 31459 (Amendment): R865-9I-11. Share of a Nonresident Estate or Trust, or Its Beneficiaries In State Taxable Income Pursuant to Utah Code Ann. Section 59-10-207

DAR File No.: 31459
Filed: 05/20/2008, 11:42
Received by: NL

RULE ANALYSIS

Purpose of the rule or reason for the change:

The section is removed since the language appears in statute.

Summary of the rule or change:

The section is removed.

State statutory or constitutional authorization for this rule:

Section 59-10-207

Anticipated cost or savings to:

the state budget:

None--The section language that is removed is duplicative of statute.

local governments:

None--The section language that is removed is duplicative of statute.

small businesses and persons other than businesses:

None--The section language that is removed is duplicative of statute.

Compliance costs for affected persons:

None--The section language is removed since its substance appears in statute.

Comments by the department head on the fiscal impact the rule may have on businesses:

There are no anticipated impacts. D'Arcy Dixon, Commissioner

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Tax Commission
Auditing
210 N 1950 W
SALT LAKE CITY UT 84134

Direct questions regarding this rule to:

Cheryl Lee at the above address, by phone at 801-297-3900, by FAX at 801-297-3919, or by Internet E-mail at [e-mail]

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

07/15/2008

This rule may become effective on:

10/13/2008

Authorized by:

D'Arcy Dixon, Commissioner

RULE TEXT

R865. Tax Commission, Auditing.

R865-9I. Income Tax.

[R865-9I-11. Share of A Nonresident Estate or Trust, or Its Beneficiaries In State Taxable Income Pursuant to Utah Code Ann. Section 59-10-207.

A. In determining the respective shares of the beneficiaries and of the estate or trust referred to in Utah Code Ann. Section 59-10-207, consideration shall be given to the net amount of the modifications described in Utah Code Ann. Sections 59-10-114 and 59-10-115. This is particularly true for those that relate to items of income, gain, loss, and deduction and that also enter into the definition of distributable net income. Otherwise, any methods different from those prescribed in Utah Code Ann. Section 59-10-207 of the act shall be used only if approved or directed by the Tax Commission as being necessary to prevent a substantial inequity in the allocation of such shares.]

 

KEY: historic preservation, income tax, tax returns, enterprise zones

Date of Enactment or Last Substantive Amendment: [March 14], 2008

Notice of Continuation: March 20, 2007

Authorizing, and Implemented or Interpreted Law: 59-10-207