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[Utah Code Table of Contents]
[TITLE 59. Table of Contents]
59-8a-101 Title.
This chapter is known as the "Gross Receipts Tax on Electrical
Corporations Act."
1995
59-8a-102 Purpose.
The purpose of this chapter is to provide for the imposition
of an in lieu excise tax on the gross receipts of electrical
corporations whose property tax liability is decreased as
a result of the property tax reductions authorized by the
Legislature during the 1995 Annual General Session.
1995
59-8a-103 Definitions.
(1) (a) "Electrical corporation" includes every corporation, cooperative association, and person, their lessees, trustees, and receivers, owning, controlling, operating, or managing any electric plant, or in any way furnishing electric power for public service or to its consumers or members for domestic, commercial, or industrial use, within this state, that:
(i) pays property taxes under Title 59, Chapter 2, Property Tax Act; and
(ii) is subject to rate regulation by the Public Service Commission of the state of Utah.
(b) "Electrical corporation" does not include independent energy producers, or electricity that is generated on or distributed by the producer solely for the producer's own use, the use of the producer's tenants, or for the use of members of an association of unit owners formed under Title 57, Chapter 8, Condominium Ownership Act, and not for sale to the public generally.
(2) "Gross receipts" is as defined in Subsection
59-8-103
(3).
1995
59-8a-104 Rate - Change of rate.
(1) For taxable years beginning on or after January 1, 1996, an in lieu excise tax is imposed on the gross receipts of electrical corporations engaging in business in the state in each taxable year as follows: Gross Receipts Amount Rate of Tax Not in excess of $10,000,000 None In excess of $10,000,000 but not in excess of $500,000,000 .2363% In excess of $500,000,000 but not in excess of $1,000,000,000 .3544% In excess of $1,000,000,000 .4725%
(2) An electrical corporation subject to the in lieu excise
tax under Subsection (1) is not required to pay the tax imposed
under Title 59, Chapter 8, Gross Receipts Tax on Certain
Corporations Not Required to Pay Corporate Franchise or Income
Tax Act.
1996
59-8a-105 Time for filing of return - Other applicable provisions.
(1) An electrical corporation subject to the gross receipts tax under this chapter shall file a return with the commission and pay the tax reflected in the return to the commission semiannually on or before the last day of July and January.
(2) All other provisions applicable to the gross receipts
tax on electrical corporations imposed under this chapter
shall be the appropriate provisions provided in Title 59,
Chapter 7, Corporate Franchise and Income Taxes, applied
as if the taxpayer under this chapter is a bank or other
corporation subject to Title 59, Chapter 7, Corporate Franchise
and Income Taxes.
1995
59-8a-106 Rulemaking authority.
The commission shall administer and enforce this chapter
and may promulgate rules under Title 63, Chapter 46a, Utah
Administrative Rulemaking Act, to carry out the purposes
of this chapter.
1995
