2006 Utah Code - 59-8a-104 (Contingently Repealed) — Rate -- Change of rate.

     59-8a-104 (Contingently Repealed).   Rate -- Change of rate.
     (1) For taxable years beginning on or after January 1, 1996, an in lieu excise tax is imposed on the gross receipts of electrical corporations engaging in business in the state in each taxable year as follows:
    Gross Receipts Amount                    Rate of Tax
    Not in excess of $10,000,000                     None
    In excess of $10,000,000 but not in
        excess of $500,000,000                 .2363%
    In excess of $500,000,000 but not in
        excess of $1,000,000,000                 .3544%
    In excess of $1,000,000,000                     .4725%
     (2) An electrical corporation subject to the in lieu excise tax under Subsection (1) is not required to pay the tax imposed under Title 59, Chapter 8, Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act.

Enacted by Chapter 278, 1995 General Session