Download Zipped Introduced WordPerfect SB0134.ZIP
[Status][Bill Documents][Fiscal Note][Bills Directory]

S.B. 134






Chief Sponsor: J. Stuart Adams

House Sponsor: Todd E. Kiser

             8      LONG TITLE
             9      General Description:
             10          This bill amends the Individual Income Tax Act to address partnership return filing
             11      deadlines.
             12      Highlighted Provisions:
             13          This bill:
             14          .    modifies return filing deadlines for a partnership; and
             15          .    makes technical and conforming changes.
             16      Monies Appropriated in this Bill:
             17          None
             18      Other Special Clauses:
             19          This bill has retrospective operation for a taxable year beginning on or after January 1,
             20      2010.
             21      Utah Code Sections Affected:
             22      AMENDS:
             23          59-10-516, as last amended by Laws of Utah 2007, Chapter 269
             25      Be it enacted by the Legislature of the state of Utah:
             26          Section 1. Section 59-10-516 is amended to read:
             27           59-10-516. Filing extension -- Payment of tax -- Penalty -- Foreign residency.

             28          (1) (a) The commission shall allow a taxpayer an extension of time for filing [returns] a
             29      return.
             30          (b) [The] (i) For a return filed by a taxpayer except for a partnership, the extension
             31      under Subsection (1)(a) may not exceed six months.
             32          (ii) For a return filed by a partnership, the extension under Subsection (1)(a) may not
             33      exceed five months.
             34          (2) (a) Except as provided in Subsection (2)(b), the commission may not impose on a
             35      taxpayer during the extension period prescribed under Subsection (1) a penalty under Section
             36      59-1-401 if the taxpayer pays, on or before the 15th day of the fourth month following the close
             37      of the taxpayer's taxable year, the lesser of:
             38          (i) 90% of the total tax reported on the return for the current taxable year; or
             39          (ii) 100% of the total tax liability for the taxable year immediately preceding the
             40      current taxable year.
             41          (b) If a taxpayer fails to meet the requirements of Subsection (2)(a), the commission
             42      may apply to the total balance due a penalty as provided in Section 59-1-401 .
             43          (3) If [any] a federal income tax return filing is lawfully delayed pending a
             44      determination of qualification for a federal tax exemption due to residency outside of the
             45      United States, a taxpayer shall file a return within 30 days after that determination is made.
             46          Section 2. Retrospective operation.
             47          This bill has retrospective operation for a taxable year beginning on or after January 1,
             48      2010.

Legislative Review Note
    as of 2-2-10 11:58 AM

Office of Legislative Research and General Counsel

[Bill Documents][Bills Directory]