Form 8823 for Salt Lake Utah 2023-2025

Form 8823 for Salt Lake Utah: What You Should Know

If the owner/agent is not a Utah resident or if the owner/agent is related to a Utah resident, they may only file one Form 8823 annually. For more information, refer to Utah Housing Corporation. You may receive tax credits as a member of Utah Housing Corp, however if you are an owner of a low-income housing project, you may only obtain a credit for properties that are in your ownership, in which you have no other person or persons who are liable for the tax to the state. The IRS will take care of all tax and other related transactions for the Utah Low-Income Housing Credit Act of 2025 & 2025 and your return should not be processed for federal credit. The IRS will collect the tax on behalf of the State of Utah and all state laws will still apply. If you do not get the credit as a Utah resident or owner of a low-income housing project, you may not be eligible to purchase or build any property. You must be a Utah resident to receive the credit and must live in your unit at the time you receive it. Qualifying units of general residential construction or buildings of one or more dwelling units must generally be used for the primary purpose of housing low-income families. Generally, this means your project must be an owner-occupied unit or an owner-occupied structure with the primary purpose of housing low-income families. A unit, structure, or building can be used for purposes other than low-income families including a day care center, shelter, recreational facility, school, a factory, a warehouse, office, or any other use. See the section that lists general residential construction Additional Tax Information The Utah State Tax Commission will be issuing a Notice of Interest, Interest Determined on a Form 8-K, and a Form 10-Q on November 9, 2022. It will provide more information about the Utah Housing Credit and other housing credit laws in the state. The Utah State Tax Commission: Maintains these documents and the information contained therein.

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