Utah Statutes
§ 59-1-103 — Income Tax Surplus Restricted Account.
Utah·Title 59 Revenue and Taxation·Ch. 59-1 General Taxation Policies·Part 59-1-1 General Provisions
(1)As used in this section:
(1)(a) "Account" means the Income Tax Surplus Restricted Account created in Subsection (2).
(1)(b) "Material increase in state income tax revenue" means the same as that term is defined in Section 59-1-214.
(2)There is created within the Income Tax Fund a restricted account known as the "Income Tax Surplus Restricted Account."
(3)The account shall be funded by the revenue deposited into the account in accordance with Subsection (5).
(4)(4)(a) The account shall earn interest.
(4)(b) The interest described in Subsection (4)(a) shall be deposited into the account.
(5)After receiving from the commission an electronic report under Subsection 59-1-214(6)(b) indicating the likelihood of a material increase in state income tax revenue, the Division of Finance shall
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Legislative History
Enacted by Chapter 225, 2025 General Session
Nearby Sections
15
§ 59-1-1001
Statement of taxpayer rights.§ 59-1-1002
Audit interviews.§ 59-1-1003
Penalty waiver.§ 59-1-1004
Installment payments.§ 59-1-1005
Suits against commission and its employees.§ 59-1-101
Definitions.§ 59-1-103
Income Tax Surplus Restricted Account.§ 59-1-1101
Private collection of tax -- Fee.§ 59-1-1302
Definitions.