1996 Notice:
Tax Review Commission
FRIDAY, JULY 12, 1996 - 1:00 P.M. - ROOM 303 STATE CAPITOL

    REVISED
    NOTICE OF MEETING

TO:    Tax Review Commission

FROM:    Mr. O. William Asplund, executive director

DATE:    July 8, 1996

SUBJECT:    July 12 Meeting

Chair Cornia has scheduled the next meeting of the Tax Review Commission as follows:

    DATE:    Friday, July 12, 1996
    TIME:    1:00 p.m.
    PLACE:    Room 303 State Capitol

NOTE: Please notice the change in time. If you are unable to attend, please call me at 538-1032.

    COMMISSION MEMBERS
    Mr. Gary Cornia, Chair
    Mr. James B. Lee, Vice-chair
Mr. Mark K. Buchi    Ms. Carol S. McCormick    Rep. Grant D. Protzman
Mr. Robert M. Graham    Judge Jon Memmott    Mr. Roger O. Tew
Sen. Lyle W. Hillyard    Ms. Bonnie G. Miller    Rep. John L. Valentine
Sen. E. George Mantes    Ms. Dorothy Pappas Owen    Mr. Ray H. Wood


    AGENDA
    1.     Call to Order and Approval of Minutes
             .              June 7, 1996

    2.     Telecommunications Public Hearing -- one hour

    3.    Interstate/International Commerce Taxation Issues

    4.    Sales Tax Exemptions to be Studied
         .     "sales of vehicles of a type required to be registered under the motor vehicle laws of this state which are made to bona fide nonresidents of this state and are not afterwards registered or used in this state except as necessary to transport them to the borders of this state" §59-12-104(10)

         .     "sales of medicine" §59-12-104(11)

         .     "isolated or occasional sales by persons not regularly engaged in business, except the sale of vehicles or vessels required to be titled or registered under the laws of this state in which case the tax is based upon:
            (a)    the bill of sale or other written evidence of value of the vehicle or vessel being sold; or
            (b)    in the absence of a bill of sale or other written evidence of value, the then existing fair market value of the vehicle or vessel being sold as determined by the commission" §59-12-104(14)

     .     "tangible personal property, other than money, traded in as full or part payment of the purchase price, except that for purposes of calculating sales or use tax upon vehicles not sold by a vehicle dealer, trade-ins are limited to other vehicles only, and the tax is based upon:
            (a)    the bill of sale or other written evidence of value of the vehicle being sold and the vehicle being traded in; or
            (b)    in the absence of a bill of sale or other written evidence of value, the then existing fair market value of the vehicle being sold and the vehicle being traded in, as determined by the commission" §59-12-104(19)

     .     "property stored in the state for resale" §59-12-104(25)

     .     "property brought into the state by a nonresident for his or her own personal use

or enjoyment while within the state, except property purchased for use in Utah by a nonresident living and working in Utah at the time of purchase" §59-12-104(26)

     .     "property purchased for resale in this state, in the regular course of business, either in its original form or as an ingredient or component part of a manufactured or compounded product" §59-12-104(27)

     .     "property upon which a sales or use tax was paid to some other state, or one of its subdivisions, except that the state shall be paid any difference between the tax paid and the tax imposed by this part and Part 2, and no adjustment is allowed if the tax paid was greater than the tax imposed by this part and Part 2" §59-12- 104(28)

     .     "sales of boats of a type required to be registered under Title 73, Chapter 18, State Boating Act, boat trailers, and outboard motors which are made to bona fide nonresidents of this state and are not thereafter registered or used in this state except as necessary to transport them to the borders of this state" §59-12-104(32)

     .     "sales of tangible personal property to persons within this state that is subsequently shipped outside the state and incorporated pursuant to contract into and becomes a part of real property located outside of this state, except to the extent that the other state or political entity imposes a sales, use, gross receipts, or other similar transaction excise tax on it against which the other state or political entity allows a credit for taxes imposed by this chapter" §59-12-104(33)

    5.    Other Business

    6.    Adjournment

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1996 Notice: Tax Review Commission FRIDAY, JULY 12, 1996 - 1:00 P.M. - ROOM 303 STATE CAPITOL

1996 Notice:
Tax Review Commission
FRIDAY, JULY 12, 1996 - 1:00 P.M. - ROOM 303 STATE CAPITOL