{"data":{"id":"us-ut/utah-code-59-10-1017","jurisdiction":"us-ut","citation":"Utah Code § 59-10-1017","heading":"Utah Educational Savings Plan tax credit.","body":"(1) As used in this section:\n(a) \"Account owner\" means the same as that term is defined in Section 53H-10-101.\n(b) \"Grantor trust\" means the same as that term is defined in Section 53H-10-201.\n(c) \"Higher education costs\" means the same as that term is defined in Section 53H-10-201.\n(d) \"Maximum amount of a qualified investment for the taxable year\" means, for a taxable year, the product of the percentage listed in Subsection 59-10-104(2) and:\n(i) subject to Subsection (1)(d)(iii), for a claimant, estate, or trust that is an account owner, if that claimant, estate, or trust is other than husband and wife account owners who file a single return jointly, the maximum amount of a qualified investment:\n(A) listed in Subsection 53H-10-205(1)(e)(ii); and\n(B) increased or kept for that taxable year in accordance with Subsections 53H-10-205(1)(f) and (g);\n(ii) subject to Subsection (1)(d)(iii), for claimants who are husband and wife account owners who file a single return jointly, the maximum amount of a qualified investment:\n(A) listed in Subsection 53H-10-205(1)(e)(iii); and\n(B) increased or kept for that taxable year in accordance with Subsections 53H-10-205(1)(f) and (g); or\n(iii) for a grantor trust:\n(A) if the owner of the grantor trust has a single filing status or head of household filing status as defined in Section 59-10-1018, the amount described in Subsection (1)(d)(i); or\n(B) if the owner of the grantor trust has a joint filing status as defined in Section 59-10-1018, the amount described in Subsection (1)(d)(ii).\n(e) \"Owner of the grantor trust\" means the same as that term is defined in Section 53H-10-201.\n(f) \"Qualified investment\" means the same as that term is defined in Section 53H-10-201.\n(2) Except as provided in Section 59-10-1002.2 and subject to the other provisions of this section, a claimant, estate, or trust that is an account owner may claim a nonrefundable tax credit equal to the product of:\n(a) the amount of a qualified investment made:\n(i) during the taxable year; and\n(ii) into an account owned by the claimant, estate, or trust; and\n(b) the percentage listed in Subsection 59-10-104(2).\n(3) A claimant, estate, or trust, or a person other than the claimant, estate, or trust, may make a qualified investment described in Subsection (2).\n(4) A claimant, estate, or trust that is an account owner may not claim a tax credit under this section with respect to any portion of a qualified investment described in Subsection (2) that a claimant, estate, trust, or person described in Subsection (3) deducts on a federal income tax return.\n(5) A tax credit under this section may not exceed the maximum amount of a qualified investment for the taxable year.\n(6) A claimant, estate, or trust that is an account owner may not carry forward or carry back the tax credit under this section.","path":["Title 59 Revenue and Taxation","Chapter 59-10 Individual Income Tax Act","Part 59-10-10 Nonrefundable Tax Credit Act"],"source_url":"https://le.utah.gov/xcode/Title59/Chapter10/59-10-S1017.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"5f8ade01c3d9da84664bbb7a2a8a25194d28367ee57b966d6cb03e09b58c66a0","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-59-10-1015","next":"us-ut/utah-code-59-10-1018"},"notice":"GroundRules: Original legal text. Not legal advice."}