Utah Statutes
§ 59-1-1308 — Material advisor penalties.
Utah·Title 59 Revenue and Taxation·Ch. 59-1 General Taxation Policies·Part 59-1-13 Reportable Transactions Act
(1)The penalty for failure of a material advisor to disclose a reportable transaction as required by Section 59-1-1306 is $20,000.
(2)If a material advisor that is required to disclose a reportable transaction in accordance with Section 59-1-1306 provides false or incomplete information to the commission, the penalty is $20,000.
(3)If a material advisor that is required to maintain a list under Section 59-1-1307 fails to make that list available to the commission within a 20-day period after the day on which the commission mails a written request for that list, the material advisor is subject to a penalty of $10,000 for each day that the material advisor fails to make that list available to the commission after the expiration of the 20-day period.
(4)A penalty imposed by this section i
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Utah § 59-1-1308 (Material advisor penalties.) — 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.