Utah ~ Corporate, Personal Income Taxes: Heavy Duty Vehicle Tax Credit Provisions Amended

first_imgCCH Tax Day ReportProvisions allowing a Utah corporate franchise or income tax or individual income tax credit for the purchase of a qualified heavy duty vehicle have been amended, operative for taxable years beginning on or after January 1, 2017. The amendments clarify that the corporate tax credit is nonrefundable. Also, the definition of a “qualified heavy duty vehicle” has been revised to include qualifying vehicles that have 100% electric or hydrogen-electric drivetrains, in addition to qualifying vehicles fueled by natural gas. In addition, various references in the credit provisions to the Air Quality Board are changed to refer to the director of the Division of Air Quality, and references to qualified conversions have been removed.S.B. 24, Laws 2017, operative as notedlast_img

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