Utah

(9) 'Resident estate' means: (a) an estate of a decedent who at death was domiciled in this state; (b) a trust, or a portion of a trust, consisting of property transferred by will of a decedent who at the time of the decedent's death was domiciled in this state; or (c) a trust administered in this state. (10) 'Resident trust' means a resident estate.

any distribution received by a resident beneficiary of a nonresident trust of undistributed distributable net income realized by the trust on or after January 1, 2004, if that undistributed distributable net income was taxed at the trust level for federal tax purposes, but was not taxed at the trust level by any state, with undistributed distributable net income considered to be distributed from the most recently accumulated undistributed distributable net income.

Federal changes phased out the national inheritance tax and, therefore, eliminated Utah's inheritance tax after December 31, 2004.

the tax is an amount equal to the product of: (a) the resident individual's state taxable income for that taxable year; and (b) 4.5%. ... Section 9. Retrospective operation. This bill has retrospective operation for a taxable year beginning on or after January 1, 2025

(2) For purposes of Subsection (1), for a taxable year, the tax is an amount equal to the product of: (a) the resident individual's state taxable income for that taxable year; and (b) 4.45%.

In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.

There shall be added to adjusted gross income of a resident or nonresident individual: ... (e) except as provided in Subsection (5), for bonds, notes, and other evidences of indebtedness acquired on or after January 1, 2003, the interest from bonds, notes, and other evidences of indebtedness ... issued by ... a state other than this state ... to the extent the interest is not included in adjusted gross income on the taxpayer's federal income tax return for the taxable year. Notwithstanding Subsection (1)(e), interest from bonds, notes, and other evidences of indebtedness issued by an entity described in Subsections (1)(e)(i)(A) through (D) may not be added to adjusted gross income of a resident or nonresident individual if, as annually determined by the commission ... the entity and all of the political subdivisions, agencies, or instrumentalities of the entity do not impose a tax based on income on any part of the bonds, notes, and other evidences of indebtedness of this state.

There shall be added to adjusted gross income of a resident or nonresident individual: ... (e) except as provided in Subsection (5), for bonds, notes, and other evidences of indebtedness acquired on or after January 1, 2003, the interest from bonds, notes, and other evidences of indebtedness ... issued by ... a state other than this state ... to the extent the interest is not included in adjusted gross income on the taxpayer's federal income tax return for the taxable year. Notwithstanding Subsection (1)(e), interest from bonds, notes, and other evidences of indebtedness issued by an entity described in Subsections (1)(e)(i)(A) through (D) may not be added to adjusted gross income of a resident or nonresident individual if, as annually determined by the commission ... the entity and all of the political subdivisions, agencies, or instrumentalities of the entity do not impose a tax based on income on any part of the bonds, notes, and other evidences of indebtedness of this state.

(a)(i) "Adjusted gross income": (A) for a resident or nonresident individual, means the same as that term is defined in Section 62, Internal Revenue Code; or (B) for a resident or nonresident estate or trust, is as calculated in Section 67(e), Internal Revenue Code.

Verbatim text of §59-10-104 not separately extracted; conformity established through §59-10-102 incorporation of federal definitions.

There shall be subtracted from adjusted gross income of a resident or nonresident individual: (a) the difference between: (i) the interest or a dividend on an obligation or security of the United States or an authority, commission, instrumentality, or possession of the United States, to the extent that interest or dividend is: (A) included in adjusted gross income for federal income tax purposes for the taxable year; and (B) exempt from state income taxes under the laws of the United States.

the tax is an amount equal to the product of: (a) the resident individual's state taxable income for that taxable year; and (b) 4.5%. ... Section 9. Retrospective operation. This bill has retrospective operation for a taxable year beginning on or after January 1, 2025

Stocks and obligations of the United States Government are exempt from taxation by a State or political subdivision of a State. The exemption applies to each form of taxation that would require the obligation, the interest on the obligation, or both, to be considered in computing a tax.

Any security issued under this chapter by a Federal home loan bank, including the stock thereof, shall be exempt from taxation, except taxes upon real estate, by any State, county, municipality, or local taxing authority.

The mortgages held by the Farm Credit Banks and the notes, bonds, debentures, and other obligations issued by the banks shall be considered and held to be instrumentalities of the United States and, as such, they and the income therefrom shall be exempt from all Federal, State, municipal, and local taxation, other than Federal income tax liability of the holder thereof under the Public Debt Act of 1941 (31 U.S.C. 3124).

In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.

the tax is an amount equal to the product of: (a) the resident individual's state taxable income for that taxable year; and (b) 4.5%. ... Section 9. Retrospective operation. This bill has retrospective operation for a taxable year beginning on or after January 1, 2025

the tax is an amount equal to the product of: (a) the resident individual's state taxable income for that taxable year; and (b) 4.5%. ... Section 9. Retrospective operation. This bill has retrospective operation for a taxable year beginning on or after January 1, 2025

Upon the death of a married person, one-half of the property to which this chapter applies is the property of the surviving spouse and is not subject to testamentary disposition by the decedent or distribution under the laws of succession of this state.

A tax is imposed on the state taxable income of a resident individual as provided in this section. There shall be added to adjusted gross income of a resident or nonresident individual: (a) a lump sum distribution that the taxpayer does not include in adjusted gross income on the taxpayer's federal individual income tax return for the taxable year.