Notwithstanding any other provision of this part, if the allocation and apportionment provisions of this part do not fairly represent the extent of the
taxpayer‘s business activity in this
state, the taxpayer may petition for or the commission may require, in respect to all or any part of the taxpayer’s business activity, if reasonable:
Terms Used In Utah Code 59-7-320
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Income: includes losses. See Utah Code 59-7-101
- State: means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, any territory or possession of the United States, and any foreign country or political subdivision thereof. See Utah Code 59-7-302
- Taxpayer: means any corporation subject to the tax imposed by this chapter. See Utah Code 59-7-101
| (2) |
the exclusion of any one or more of the factors; |
| (3) |
the inclusion of one or more additional factors which will fairly represent the taxpayer’s business activity in this state; or |
| (4) |
the employment of any other method to effectuate an equitable allocation and apportionment of the taxpayer’s income. |
Amended by Chapter 225, 2005 General Session
