Utah Amends Trust Business Provisions, Includes Trust Income Tax Amendment

The Utah Governor signed a law amending provisions relating to trust business. The law includes changing the reference for additions to and subtractions from unadjusted income of a resident or nonresident estate or trust, for income of an irrevocable resident trust if the trustee of the trust is a trust company as defined in Section 7-5-101 rather than Section 7-5-1(1)(d). The law takes effect on May 6. [H.B. 176, enacted 03/18/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.