Utah § 59-1-1306 Material advisor disclosure of reportable transactions.

Utah Statutes

§ 59-1-1306 — Material advisor disclosure of reportable transactions.

Utah § 59-1-1306

Title 59Revenue and Taxation

Ch. 59-1General Taxation Policies

Part 59-1-13Reportable Transactions Act

This text of Utah § 59-1-1306 (Material advisor disclosure of reportable transactions.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 59-1-1306 (2026).

Text

(1)(1)(a) A material advisor shall disclose a reportable transaction to the commission on a form provided by the commission.

(1)(b) The disclosure described in Subsection (1)(a):

(1)(b)(i) shall include information:

(1)(b)(i)(A) identifying and describing the transaction; and

(1)(b)(i)(B) describing any potential tax benefits expected to result from the transaction; and

(1)(b)(ii) may include information other than the information described in Subsection (1)(b)(i) as required by the commission.

(2)If a material advisor described in Subsection (1) is required to file a return disclosing a reportable transaction under Section 6111, Internal Revenue Code, the material advisor shall provide the commission a copy of that return.

(3)In accordance with Title 63G, Chapter 3, Utah Administrativ

Free access — add to your briefcase to read the full text and ask questions with AI

(1) (1)(a) A material advisor shall disclose a reportable transaction to the commission on a form provided by the commission.
(1)(b) The disclosure described in Subsection (1)(a):
(1)(b)(i) shall include information:

(1)(b)(i)(A) identifying and describing the transaction; and
(1)(b)(i)(B) describing any potential tax benefits expected to result from the transaction; and
(1)(b)(ii) may include information other than the information described in Subsection (1)(b)(i) as required by the commission.
(2) If a material advisor described in Subsection (1) is required to file a return disclosing a reportable transaction under Section 6111, Internal Revenue Code, the material advisor shall provide the commission a copy of that return.
(3) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commission shall make rules prescribing:

(3)(a) the date a:
(3)(a)(i) disclosure required by Subsection (1) shall be filed with the commission; and
(3)(a)(ii) copy of a return required by Subsection (2) shall be filed with the commission;
(3)(b) that only one person may be required to meet the requirements of Subsection (1) or (2) if two or more persons would otherwise be required to meet the requirements of Subsection (1) or (2); and
(3)(c) exemptions from Subsection (1) or (2).