2012 Utah Code
Title 59 - Revenue and Taxation
Article 1 - General Taxation Policies
Section 1304 - Penalty for taxpayer failure to disclose a reportable transaction.
(1) (a) Except as provided in Subsection (1)(b), a taxpayer that fails to disclose a reportable transaction as required by Section 59-1-1303 is subject to a penalty of $15,000.
(b) A taxpayer that fails to disclose a listed transaction as required by Section 59-1-1303 is subject to a penalty of $30,000.
(2) A penalty imposed by this section is in addition to any other penalty imposed by this title.
Enacted by Chapter 237, 2006 General Session
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