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Form 8825 for Salt Lake Utah: What You Should Know

Sheet 2 — Utah Residential Real Estate Assessments (RTS) Salt Lake City, UT 84. &, Residential Assessment Information Rental Real Estate Income Tax Rates in Utah The rate is calculated based on the total gross (not per unit) rental income (gross receipts) from property located in a Salt Lake City rental real estate development. Exemptions may apply. See Tax Information in this section for the complete list. 1. Total (not per unit) Gross Income. The gross income includes the following: a. Gross receipts from property used exclusively or predominately to make rental real estate property payments If a gross receipt from property used only for rental purposes is not a single cash payment and is not the property of a single person or group of persons, then it is separate. Example: A single landlord purchases property on behalf of a landlord and a group of tenants. The landlord pays rent to one of the tenants and rents the property to another tenant. The second tenant pays rent to the landlord and also receives a rental commission from the landlord. The third tenant is not a tenant of the landlord nor are they related to him. b. Rent received by a landlord (from a tenant of the real estate) from a separate property or property used as an investment For a rental transaction where rent includes the full value of a separate property, the gross receipt shall be zero. Example: A tenant pays the entire rent due from a property and then receives a monthly rental from that property. Example: A tenant receives an annuity payment from a company that rents the property and receives an annuity payment from a second company that rents the property. For each separate company, the landlord is considered a landlord of the first company for the purpose of the second company's total gross rental property income and the second company's gross receipt for the purpose of the first company's total rental property income. However, if the separate entities pay rental property income at a similar rate and the two companies receive rent payments at a similar rate, the two separate companies are in fact tenants of the same landlord. c. Rent received by a landlord (from more than one tenant) from a property or property used as a business If more than one tenant of the property pays rent, each tenant pays their fair share according to Utah Code § 47-4-101(3)(b)(5).

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