Utah Code 59-7-314. Averaging property values for inclusion in property factors

(1)	The average value of property shall be determined by averaging the values at the beginning and ending of the tax period or averaging of monthly values during the tax period if monthly averaging more clearly reflects the average value of the taxpayer‘s property.

Airline: means the same as that term is defined in Section 59-2-102. See Utah Code 59-7-302
Property: includes both real and personal property. See Utah Code 68-3-12.5
Taxpayer: means any corporation subject to the tax imposed by this chapter. See Utah Code 59-7-101

(2)	The average value of property of an airline is valued as provided in this section, subject to the calculation required by Subsection 59-7-312(2).

Amended by Chapter 283, 2008 General Session