Utah Statutes
§ 59-1-1304 — Penalty for taxpayer failure to disclose a reportable transaction.
Utah·Title 59 Revenue and Taxation·Ch. 59-1 General Taxation Policies·Part 59-1-13 Reportable Transactions Act
(1)(1)(a) Except as provided in Subsection (1)(b), a taxpayer that fails to disclose a reportable transaction as required by Section 59-1-1303 is subject to a penalty of $15,000.
(1)(b) A taxpayer that fails to disclose a listed transaction as required by Section 59-1-1303 is subject to a penalty of $30,000.
(2)A penalty imposed by this section is in addition to any other penalty imposed by this title.
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Utah § 59-1-1304 (Penalty for taxpayer failure to disclose a reportable transaction.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Chapter 237, 2006 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.