{"data":{"id":"us-ut/utah-code-59-12-104.3","jurisdiction":"us-ut","citation":"Utah Code § 59-12-104.3","heading":"Credit for certain repossessions of a motor vehicle.","body":"(1)\n(a) Subject to Subsections (2) and (3), a seller that collects a tax under this chapter on the sale of a motor vehicle may claim a credit for a tax under this chapter for a motor vehicle that:\n(i) has been repossessed; and\n(ii) that the seller resells.\n(b) A seller of a motor vehicle other than the seller that collects a tax under this chapter on the sale of that motor vehicle may claim a credit for a tax under this chapter:\n(i) for a motor vehicle that the seller:\n(A) repossessed; and\n(B) resells; and\n(ii) if the seller that collected the tax under this chapter on that motor vehicle:\n(A) is no longer doing business in this state; and\n(B) does not owe a tax under this chapter.\n(2) The amount of the credit allowed by Subsection (1) is equal to the product of:\n(a) the portion of the motor vehicle's purchase price that:\n(i) was subject to a tax under this chapter; and\n(ii) remains unpaid after the motor vehicle is resold; and\n(b) the sum of the tax rates imposed:\n(i) under this chapter;\n(ii) on the motor vehicle's purchase price; and\n(iii) on the date the motor vehicle was purchased by the person that owns the motor vehicle at the time of the repossession.\n(3) Except as provided in Subsection (4), if a seller recovers any portion of a motor vehicle's unpaid purchase price that is used to calculate a credit allowed by Subsection (1)(b), the seller shall report and remit a tax under this chapter to the commission:\n(a) on the portion of the motor vehicle's unpaid purchase price that:\n(i) the seller recovers; and\n(ii) is used to calculate the credit allowed by Subsection (1)(b); and\n(b) on a return filed for the time period for which the portion of the motor vehicle's unpaid purchase price is recovered.\n(4) A credit under this section may not be reduced by any amount of a motor vehicle's unpaid purchase price that a seller recovers as a result of reselling the vehicle, regardless of whether that amount is included in calculating a credit under this section.","path":["Title 59 Revenue and Taxation","Chapter 59-12 Sales and Use Tax Act","Part 59-12-1 Tax Collection"],"source_url":"https://le.utah.gov/xcode/Title59/Chapter12/59-12-S104.3.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"992f62a31a2b7702537fb0a8dd1cb93ad55ada8e056382cc52d6d7bc752298fc","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-59-12-104.2","next":"us-ut/utah-code-59-12-104.4"},"notice":"GroundRules: Original legal text. Not legal advice."}