No. 35149 (Amendment): Section R884-24P-28. Reporting Requirements For Leased or Rented Personal Property, Pursuant to Utah Code Ann. Section 59-2-306

(Amendment)

DAR File No.: 35149
Filed: 08/11/2011 02:48:56 PM

RULE ANALYSIS

Purpose of the rule or reason for the change:

The proposed amendment updates language to match Tax Commission practice.

Summary of the rule or change:

The proposed amendment decreases the filing frequency of a report filed by an owner of leased or rented heavy equipment from semi-annually to annually, clarifies that this report may be filed electronically, and makes technical changes.

State statutory or constitutional authorization for this rule:

• Section 59-2-306

Anticipated cost or savings to:

the state budget:

None--Property tax revenues are local revenues.

local governments:

None--The amendment updates language to match commission practice.

small businesses:

None--The amendment updates language to match commission practice.

persons other than small businesses, businesses, or local governmental entities:

None--The amendment updates language to match commission practice.

Compliance costs for affected persons:

None--The amendment updates language to match commission practice.

Comments by the department head on the fiscal impact the rule may have on businesses:

This amendment will create no fiscal impact because it conforms the rule to agency practice.

Michael Cragun, Commissioner

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Tax Commission
Property Tax
210 N 1950 W
SALT LAKE CITY, UT 84134

Direct questions regarding this rule to:

• Christa Johnson at the above address, by phone at 801-297-3901, by FAX at 801-297-3907, or by Internet E-mail at [e-mail]

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

10/03/2011

This rule may become effective on:

10/10/2011

Authorized by:

Michael Cragun, Tax Commissioner

RULE TEXT

R884. Tax Commission, Property Tax.

R884-24P. Property Tax.

R884-24P-28. Reporting Requirements For Leased or Rented Personal Property[,] Pursuant to Utah Code Ann. Section 59-2-306.

[A.](1) The procedure set forth herein is required in reporting heavy equipment leased or rented during the tax year.

[1.](2) [On forms or diskette provided by the Tax Commission, the]The owner of leased or rented heavy equipment shall file [semi-annual]annual reports with the [Tax Commission]commission, either on forms provided by the commission or electronically, for the periods January 1 through June 30, and July 1 through December 31 of each year. The reports shall contain the following information:

[a)](a) a description of the leased or rented equipment;

[b)](b) the year of manufacture and [acquistion]acquisition cost;

[c)](c) a listing, by month, of the counties where the equipment has situs; and

[d)](d) any other information required.

[2.](3) For purposes of this rule, situs is established when leased or rented equipment is kept in an area for thirty days. Once situs is established, any portion of thirty days during which that equipment stays in that area shall be counted as a full month of situs. In no case may situs exceed twelve months for any year.

[3.](4)(a) The completed report shall be submitted to the Property Tax Division of the [Tax Commission]commission within thirty days after each reporting period.

[a)](b) Noncompliance will require accelerated reporting.

 

KEY: taxation, personal property, property tax, appraisals

Date of Enactment or Last Substantive Amendment: [December 15, 2010]2011

Notice of Continuation: March 12, 2007

Authorizing, and Implemented or Interpreted Law: Art. XIII, Sec 2; 9-2-201; 11-13-302; 41-1a-202; 41-1a-301; 59-1-210; 59-2-102; 59-2-103; 59-2-103.5; 59-2-104; 59-2-201; 59-2-210; 59-2-211; 59-2-301; 59-2-301.3; 59-2-302; 59-2-303; 59-2-303.1; 59-2-305; 59-2-306; 59-2-401; 59-2-402; 59-2-404; 59-2-405; 59-2-405.1; 59-2-406; 59-2-508; 59-2-515; 59-2-701; 59-2-702; 59-2-703; 59-2-704; 59-2-704.5; 59-2-705; 59-2-801; 59-2-918 through 59-2-924; 59-2-1002; 59-2-1004; 59-2-1005; 59-2-1006; 59-2-1101; 59-2-1102; 59-2-1104; 59-2-1106; 59-2-1107 through 59-2-1109; 59-2-1113; 59-2-1115; 59-2-1202; 59-2-1202(5); 59-2-1302; 59-2-1303; 59-2-1317; 59-2-1328; 59-2-1330; 59-2-1347; 59-2-1351; 59-2-1365

 

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