Safe harbor lease provisions.

1. Law
2. Utah Code
3. Revenue and Taxation
4. Corporate Franchise and Income Taxes
5. Corporate Tax Generally
6. Safe harbor lease provisions.

• (1)
  • (a) For purchasers or lessors of safe harbor leases, the following additions shall be made to unadjusted income:
    • (i) interest expense; and
    • (ii) depreciation claimed on safe harbor lease property.
  • (b) For purchasers or lessors of safe harbor leases, the following subtractions shall be made from unadjusted income:
    • (i) rental income; and
    • (ii) amortization of the purchase price of tax benefits.

• (2)
  • (a) For sellers or lessees of safe harbor leases the following additions shall be made from unadjusted income:
    • (i) the amount of gain on the sale of federal tax benefits; and
    • (ii) rental expense on safe harbor lease property.
  • (b) For sellers or lessees of safe harbor leases the following subtractions shall be made to unadjusted income:
    • (i) interest income; and
    • (ii) depreciation on safe harbor lease property.

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