R865.  Tax Commission, Auditing.

R865-9I.  Income Tax.

[R865-9I-38.  Pensions and Annuities Pursuant to Utah Code Ann. Section 59-10-114.]

            [A.  Amounts received by taxpayers from pension or annuity plans described in Section 59-10-114 are not retirement income for purposes of that section if:]

            [1.  The amounts received are subject to the penalty or additional tax imposed by I.R.C. sections 72(q) and (t); or]

            [2.  The amounts are not subject to the penalty or additional taxes imposed by I.R.C. Sections 72(q) and (t) because they are a return of previously taxed contributions; or]

3.      [The amounts received are due to termination of employment before reaching a normal retirement age as established under the qualifying plan.]

 

 

KEY:  historic preservation, income tax, tax returns, enterprise                     59-10-114

 

 

Effective 6/29/04