(1) |
(a) |
A person, or an officer or agent of that person, owning or operating property described in Subsection (1)(b) shall, on or before March 1 of each year, file with the commission a statement:
(i) |
signed and sworn to by the person, officer, or agent; |
(ii) |
showing in detail all real property and tangible personal property located in the state that the person owns or operates; |
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(iii) |
containing the number of miles of taxable tangible personal property in each county:
(A) |
that the person owns or operates; and |
(B) |
as valued on January 1 of the year for which the person, officer, or agent is furnishing the statement; and |
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(iv) |
containing any other information the commission requires. |
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(b) |
Subsection (1)(a) applies to:
(i) |
the following property located in the state:
(C) |
an air charter service; or |
(D) |
an air contract service; or |
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(ii) |
the following property located in more than one county in the state:
(D) |
an irrigation company; or |
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(c) |
(i) |
The commission may allow an extension for filing the statement under Subsection (1)(a) for a time period not exceeding 30 days, unless the commission determines that extraordinary circumstances require a longer period of extension. |
(ii) |
The commission shall grant a person, or an officer or agent of that person, an extension for filing the statement under Subsection (1)(a) for a time period not exceeding 15 days if:
(A) |
a federal regulatory agency requires the taxpayer to file a statement that contains the same information as the statement under Subsection (1)(a); and |
(B) |
the person, or an officer or agent of that person, requests the commission to grant the extension. |
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(2) |
The commission shall assess and list the property described in Subsection (1)(b) using the best information obtainable by the commission if a person, or an officer or agent of that person, fails to file the statement required under Subsection (1)(a) on or before the later of:
(b) |
if the commission allows an extension under Subsection (1)(c) for filing the statement, the day after the last day of the extension period. |
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(3) |
(a) |
Except as provided in Subsection (3)(c), the commission shall assess a person a penalty as provided in Subsection (3)(b), if the person, or an officer or agent of that person, fails to file:
(i) |
the statement required under Subsection (1)(a) on or before the later of:
(B) |
if the commission allows an extension under Subsection (1)(c) for filing the statement, the day after the last day of the extension period; or |
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(ii) |
any other information the commission determines to be necessary to:
(A) |
establish valuations for assessment purposes; or |
(B) |
apportion an assessment. |
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(b) |
The penalty described in Subsection (3)(a) is an amount equal to the greater of:
(i) |
10% of the person’s estimated tax liability under this chapter for the current calendar year not to exceed $50,000; or |
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(c) |
(i) |
Notwithstanding Subsections (3)(a) and (4), the commission may waive, reduce, or compromise a penalty imposed under this section if the commission finds there are reasonable grounds for the waiver, reduction, or compromise. |
(ii) |
If the commission waives, reduces, or compromises a penalty under Subsection (3)(c)(i), the commission shall make a record of the grounds for waiving, reducing, or compromising the penalty. |
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(4) |
The county treasurer shall collect the penalty imposed under Subsection (3) as provided in Section 59-2-1308. |
Amended by Chapter 382, 2008 General Session