Utah Statutes
§ 59-7-313 — Valuation of property for inclusion in property factor.
Utah·Title 59 Revenue and Taxation·Ch. 59-7 Corporate Franchise and Income Taxes·Part 59-7-3 Allocation and Apportionment of Income - Utah UDITPA Provisions
(1)Property owned by the taxpayer is valued at its original cost.
(2)Property rented by the taxpayer is valued at eight times the net annual rental rate.
(3)Net annual rental rate is the annual rental rate paid by the taxpayer less any annual rental rate received by the taxpayer from subrentals.
(4)Property owned or rented by an airline is valued as provided in this section, subject to the calculation required by Subsection 59-7-312(2).
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Legislative History
Amended by Chapter 283, 2008 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.