59-10-1002 - Definitions.
59-10-1002. Definitions.
As used in this part:
(1) (a) Except as provided in Subsection (1)(b) or Subsection 59-10-1003(2), "claimant"means a resident or nonresident person that has state taxable income.
(b) "Claimant" does not include an estate or trust.
(2) Except as provided in Subsection 59-10-1003(2), "estate" means a nonresident estateor a resident estate that has state taxable income.
(3) "Nonrefundable tax credit" or "tax credit" means a tax credit that a claimant, estate,or trust may:
(a) claim:
(i) as provided by statute; and
(ii) in an amount that does not exceed the claimant's, estate's, or trust's tax liability underthis chapter for a taxable year; and
(b) carry forward or carry back:
(i) if allowed by statute; and
(ii) to the extent that the amount of the tax credit exceeds the claimant's, estate's, ortrust's tax liability under this chapter for a taxable year.
(4) Except as provided in Subsection 59-10-1003(2), "trust" means a nonresident trust ora resident trust that has state taxable income.
Amended by Chapter 2, 2006 Special Session 4