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Code · Utah · Title 48 — Unincorporated Business Entity Act · Chapter 5

Renumbered 10/1/2026

175 words·~1 min read·/ut/title-48/chapter-5/10-26

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 1/1/2024
Renumbered 10/1/2026
48-5-406. Taxation.
(1)If a decentralized autonomous organization recognized by this act is eligible to elect to be classified as a corporation for federal tax purposes, and the decentralized autonomous organization makes that election, the decentralized autonomous organization shall be subject to the provisions of Title 59, Chapter 7, Corporate Franchise and Income Taxes .
(a)Unless the decentralized autonomous organization makes the election described in Subsection
(1), a decentralized autonomous organization recognized by this act shall be classified as a partnership for tax purposes and subject to the provisions of Title 59, Chapter 10, Part 14, Pass-Through Entities and Pass-Through Entity Taxpayers Act .
(b)For purposes of taxation, a decentralized autonomous organization shall allocate the distributive share of income, gain, loss, deduction, and credit derived from the decentralized autonomous organization's activities, to each member of the decentralized autonomous organization in proportion to the member's membership interest in the entity.
Renumbered and Amended by Chapter 92 , 2026 General Session
Enacted by Chapter 85 , 2023 General Session
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