Utah Code 59-10-1042, prior version (effective 5/3/2023, superseded 5/7/2025; le.utah.gov version file C59-10-S1042_2023050320230503)

(1) As used in this section: (a) "Head of household filing status" means the same as that term is defined in Section 59-10-1018 . (b) "Joint filing status" means the same as that term is defined in Section 59-10-1018 . (c) "Married filing separately status" means a married individual who: (i) does not file a single federal individual income tax return jointly with that married individual's spouse for the taxable year; and (ii) files a single federal individual income tax return for the taxable year. (d) "Modified adjusted gross income" means the sum of the following for a claimant or, if the claimant's return under this chapter is allowed a joint filing status, the claimant and the claimant's spouse: (i) adjusted gross income for the taxable year for which a tax credit is claimed under this section; (ii) any interest income that is not included in adjusted gross income for the taxable year described in Subsection (1)(d)(i) ; and (iii) any addition to adjusted gross income required by Section 59-10-114 for the taxable year described in Subsection (1)(d)(i) . (e) "Single filing status" means a single individual who files a single federal individual income tax return for the taxable year. (f) "Social security benefit" means an amount received by a claimant as a monthly benefit in accordance with the Social Security Act, 42 U.S.C. Sec. 401 et seq.

(2) Except as provided in Section 59-10-1002.2 and Subsections (3) and (4) , each claimant on a return that receives a social security benefit may claim a nonrefundable tax credit against taxes otherwise due under this part equal to the product of: (a) the percentage listed in Subsection 59-10-104(2) ; and (b) the claimant's social security benefit that is included in adjusted gross income on the claimant's federal income tax return for the taxable year.

(3) A claimant may not: (a) carry forward or carry back the amount of a tax credit under this section that exceeds the claimant's tax liability for the taxable year; or (b) claim a tax credit under this section for a taxable year if a tax credit under Section 59-10-1019 is claimed on the claimant's return for the same taxable year.

(4) The tax credit allowed by Subsection (2) claimed on a return filed under this part shall be reduced by $.025 for each dollar by which modified adjusted gross income for purposes of the return exceeds: (a) for a federal individual income tax return that is allowed a married filing separately status, $37,500; (b) for a federal individual income tax return that is allowed a single filing status, $45,000; (c) for a federal individual income tax return that is allowed a head of household filing status, $75,000; or (d) for a return under this chapter that is allowed a joint filing status, $75,000.

(5) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act , the commission may make rules governing the calculation and method for claiming the tax credit described in this section.