Utah Corporate Income Tax Statistics: 2001

Prepared by Tom Williams with the assistance of Michael Hanni

General Information

• About the Data – Please read this to understand the tables
• An overview – Who Pays?
• A Historical Glance
  The figure and chart reveal how corporate taxes have evolved relative to both the sales and personal income taxes, the other major taxes. On the figure, the three lines proceeding from the lower left to the upper right show the amount of sales, income, and corporate taxes collected. The amount of each tax is shown on the left scale. The line starting in the upper left and falling to the lower right shows corporate collections as a share of the three major taxes listed on the table. Note that in the early years data is in five year increments and becomes yearly after 1990.
• 2001 Corporate Tax Form
• A Western State Comparison

2001 Data

• By Utah Taxable Income
• By Utah Taxable Income and Minimum Tax Status
• By Industry (NAICS) and Utah Taxable Income
• NAICS Detailed Definitions

Tax Credits

Credits on these pages are reported in two ways. The amount reported on the form is designated as "claimed." But often times taxpayers will not have enough taxes to use the full credit, in which case we only report as “allowed” the amount that can be used. It should be noted in some cases that taxpayers will only claim the amount allowed, so the claimed amount may be lower than the amount earned.

• General Information
• 2001 Tax Credits Claimed
• 2001 Tax Credits Allowed

Apportionment Data

• Apportionment: By Income and Sector – What is apportionment and how does it impact taxes?
• By Income Class
• By Income Class and Minimum Tax Status
• By North American Industrial Classification (NAIC)
• By NAIC and Minimum Tax Status