Terms Used In Utah Code > Title 59 > Chapter 8 - Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act

• Contract: A legal written agreement that becomes binding when signed.
• Corporation: means :

  (a)	any domestic corporation organized under Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act;

  (b)	any foreign corporation engaged in business in this state under Sections 16-6a-1501 through 16-6a-1518;

  (c)	any project entity defined in Section 11-13-103; or

  (d)

  a public agency, as defined in Section 11-13-103, to the extent it owns an interest in facilities providing additional project capacity, as defined in Section 11-13-103. See Utah Code 59-8-103 Corporation: means an insurance corporation, except when referring to: (i)  a corporation doing business: (A)  as: (I)  an insurance producer; (II)  a surplus lines producer; (III)  a limited line producer; (IV)  a consultant; (V)  a managing general agent; (VI)  a reinsurance intermediary; (VII)  a third party administrator; or (VIII)  an adjuster; and (B)  under: (I)  Chapter 23a, Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries; (II)  Chapter 25, Third Party Administrators; or (III)  Chapter 26, Insurance Adjusters; or (ii)  a noninsurer that is part of a holding company system under Chapter 16, Insurance Holding Companies. See Utah Code 31A-1-301 Engaging in business: means carrying on or causing to be carried on any activity through which goods or services are made or rendered by the taxpayer, except as provided in Section 59-7-102. See Utah Code 59-8-103 Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Gross receipts: means the totality of the consideration that the taxpayer receives for any good or service produced or rendered in the state without any deduction or expense paid or accrued in respect to it. See Utah Code 59-8-103 Individual: means a natural person. See Utah Code 31A-1-301 Insurance: includes : (i)  a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind; (ii)  a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and (iii)  a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301 Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Mutual: means a mutual insurance corporation. See Utah Code 31A-1-301 Surplus: means the excess of assets over the sum of paid-in capital and liabilities. See Utah Code 31A-1-301 Taxpayer: means any corporation, other than an eleemosynary, religious, or charitable institution, any insurance company, credit union, or Subchapter S organization, any nonprofit hospital, educational, welfare, or employee representation organization, or any mutual benefit association engaged in business in the state that is not otherwise required to pay income or franchise tax to the state under Title 59, Chapter 7, Corporate Franchise and Income Taxes. See Utah Code 59-8-103