2006 Utah Code - 63-38f-1307 — Office\'s authority.

     63-38f-1307.   Office's authority.
     (1) The office, with the advice of the board and within the limitations of this part, may determine:
     (a) the structure and amount of any partial rebates offered under this part;
     (b) the economic impacts and job creation necessary to qualify for the incentive; and
     (c) the other terms and conditions of any agreement entered into under this part.
     (2) In reviewing claims for partial rebates of new state revenues, the office may accept:
     (a) as the amount of employee income taxes paid, the amount of employee income taxes withheld and transmitted to the Utah State Tax Commission as evidenced by payroll records rather than adjusting for the difference between taxes withheld and taxes actually paid through filing by employees' annual income tax statements; and
     (b) as the amount of company income taxes paid, the amount of corporate franchise and income taxes estimated and transmitted to the Utah State Tax Commission as evidenced by quarterly payment records rather than adjusting for the difference between estimated taxes paid quarterly and taxes actually paid through the filing of the corporation's annual income tax statement.
     (3) In accordance with Title 63, Chapter 46a, Utah Administrative Rulemaking Act, the board may make, amend, and repeal rules regarding the development zone and partial rebates offered within it, provided the rules are consistent with state and federal law.

Amended by Chapter 52, 2006 General Session