Section 59-10-1041 - Nonrefundable tax credit for a donation to the Carson Smith Opportunity Scholarship Program(1) Except as provided in Subsection (3), a claimant, estate, or trust that makes a donation to the Carson Smith Opportunity Scholarship Program established in Section 53E-7-402 may claim a nonrefundable tax credit equal to 100% of the amount stated on a tax credit certificate issued in accordance with Section 53E-7-407.(2) If the amount of a tax credit listed on the tax credit certificate exceeds a claimant's, estate's, or trust's tax liability under this chapter for a taxable year, the claimant, estate, or trust:(a) may carry forward the amount of the tax credit exceeding the liability for a period that does not exceed the next three taxable years; and(b) may carry back the amount of the tax credit that exceeds the claimant's, estate's, or trust's tax liability to the previous taxable year.(3) A claimant, estate, or trust may not claim a credit described in Subsection (1) to the extent the claimant, estate, or trust claims a donation described in Subsection (1) as an itemized deduction on the claimant's, estate's, or trust's federal individual income tax return for that taxable year.Amended by Chapter 466, 2024 General Session ,§ 16, eff. 7/1/2024, app. 7/1/2024.Amended by Chapter 262, 2022 General Session ,§ 8, eff. 5/4/2022, app. for a taxable year beginning on or after 1/1/2022.Added by Chapter 3, 2020SP4 General Session ,§ 14, eff. 1/1/2021.Added by Chapter 1, 2019SP2 General Session ,§ 38, eff. 2/11/2020, which was repealed by Chapter 1, 2020 General Session ,§ 1, eff. 1/29/2020.