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Section 104 - Rate -- Change of rate.

UT Code § 59-8-104 (2019) (N/A)
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(1) Beginning on or after July 1, 2006, and subject to Section 11-13-303, an in lieu excise tax is imposed on the gross receipts of a taxpayer engaging in business in the state of Utah in each taxable year as follows: Gross Receipts AmountRate of Tax Not in excess of $10,000,000None In excess of $10,000,000 but not in excess of $500,000,000 .6250% In excess of $500,000,000 but not in excess of $1,000,000,000 .9375% In excess of $1,000,000,0001.2500%

Gross Receipts AmountRate of Tax

Not in excess of $10,000,000None

In excess of $10,000,000 but not in excess of $500,000,000 .6250%

In excess of $500,000,000 but not in excess of $1,000,000,000 .9375%

In excess of $1,000,000,0001.2500%

(2) It is the intent of the Legislature that, as a result of the tax rate decrease provided in Section 59-8-104 of Chapter 221, Laws of Utah 2006, all or a portion of any cost decrease received by a taxpayer as a result of the tax rate decrease be used in whole or in part for expenditures, scholarships, or grants that will benefit the citizens of this state.

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