DAR File No. 31470
This filing was published in the 06/15/2008, issue, Vol. 2008, No. 12, of the Utah State Bulletin.
Tax Commission, Auditing
R865-9I-52
Subtractions for Health Care Insurance and For Premiums For Long-Term Care Insurance Pursuant to Utah Code Ann. Section 59-100-114
NOTICE OF PROPOSED RULE
DAR File No.: 31470
Filed: 05/20/2008, 04:06
Received by: NL
RULE ANALYSIS
Purpose of the rule or reason for the change:
The amendment is required by statutory changes made by H.B. 359 (2008). (DAR NOTE: H.B. 359 (2008) is found at Chapter 389, Laws of Utah 2008, and was effective 05/05/2008.)
Summary of the rule or change:
Proposed amendment deletes reference to a state tax deduction for long term care insurance since H.B. 359 (2008) repealed that deduction.
State statutory or constitutional authorization for this rule:
Section 59-10-1023
Anticipated cost or savings to:
the state budget:
None--Any revenue impact was considered in H.B. 359 (2008).
local governments:
None--Any revenue impact was considered in H.B. 359 (2008).
small businesses and persons other than businesses:
None--Any revenue impact was considered in H.B. 359 (2008).
Compliance costs for affected persons:
Taxpayers will no longer be able to take a state tax deduction for long-term care insurance.
Comments by the department head on the fiscal impact the rule may have on businesses:
There are no anticipated impacts. D'Arcy Dixon, Commissioner
The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:
Tax CommissionAuditing
210 N 1950 W
SALT LAKE CITY UT 84134
Direct questions regarding this rule to:
Cheryl Lee at the above address, by phone at 801-297-3900, by FAX at 801-297-3919, or by Internet E-mail at clee@utah.gov
Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:
07/15/2008
This rule may become effective on:
10/13/2008
Authorized by:
D'Arcy Dixon, Commissioner
RULE TEXT
R865. Tax Commission, Auditing.
R865-9I. Income Tax.
R865-9I-52. [Subtractions]Credit For
Health [Care]Benefit Plan Insurance [and For Premiums For
Long-Term Care Insurance ]Pursuant to Utah Code Ann. Section [59-10-114]59-10-1023.
A [subtraction from federal taxable income under
Subsection 59-10-114(2)]credit for health [care ]benefit
plan insurance [and for premiums for long-term care insurance]under
Section 59-10-1023 shall be determined in the manner that provides the
greatest possible [subtraction under Subsection 59-10-114(2)]credit.
KEY: historic preservation, income tax, tax returns, enterprise zones
Date of Enactment or Last Substantive
Amendment: [March 14], 2008
Notice of Continuation: March 20, 2007
Authorizing, and Implemented or Interpreted Law: 59-10-114; 59-10-1023
ADDITIONAL INFORMATION
Text to be deleted is struck through and surrounded by brackets (e.g., [example]). Text to be added is underlined (e.g., example). Older browsers may not depict some or any of these attributes on the screen or when the document is printed.
For questions regarding the content or application of this rule, please contact Cheryl Lee at the above address, by phone at 801-297-3900, by FAX at 801-297-3919, or by Internet E-mail at clee@utah.gov
For questions about the rulemaking process, please contact the Division of Administrative Rules (801-538-3764). Please Note: The Division of Administrative Rules is NOT able to answer questions about the content or application of these administrative rules.
Last modified: 06/12/2008 2:17 PM