Utah Code 13-32-104. Receipts and transaction records — Retention of receipts and transaction records
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(1) Every vendor shall maintain receipts or a permanent record book for the acquisition of new and unused property which shall contain:
Terms Used In Utah Code 13-32-104
- Person: means :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5
- Property: includes both real and personal property. See Utah Code 68-3-12.5
(1)(a) the date of the transaction on which the property was acquired;(1)(b) the name and address of the person from whom the property was acquired;(1)(c) an identification and description of the property acquired;(1)(d) the price paid for such property; and(1)(e) the signatures of the person selling the property and the vendor.
(2) The receipt or record for each transaction required by Subsection (1) shall be maintained by the vendor for a period of not less than one year following the date of the transaction.