Utah Code 59-31-302. Remittance of tax
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(1)
Terms Used In Utah Code 59-31-302
- Cannabinoid product: means the same as that term is defined in Section
4-41-102 . See Utah Code 59-31-101 - Licensee: means a retailer that holds a valid license under Part 2, Licensing, to sell a cannabinoid product. See Utah Code 59-31-101
- Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5
- 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
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(1)(a) The licensee that collects the tax imposed on a cannabinoid product shall remit to the commission, in an electronic format approved by the commission:(1)(a)(i) the tax due in the previous quarter; and(1)(a)(ii) the tax return.(1)(b) The tax collected and the return are due on or before the last day of April, July, October, and January.
(2) A licensee that sells a cannabinoid product to a purchaser shall maintain records to determine the amount of tax due under this part for a period of three years.
(3)
(3)(a) A consumer that receives or purchases an untaxed cannabinoid product for use or other consumption shall:
(3)(a)(i) file with the commission, on a form provided by the commission, a statement showing the quantity and description of the cannabinoid product subject to tax under this part; and
(3)(a)(ii) pay the tax imposed by this part on the cannabinoid product.
(3)(b) The consumer shall file the statement described in Subsection (3)(a) and pay the tax due on or before the last day of the month immediately following the month during which the consumer purchased an untaxed cannabinoid product.
(3)(c) A consumer shall maintain records necessary to determine the amount of tax the consumer is liable to pay under this part for a period of three years after the day on which the consumer filed the statement required by this section.
(4) A tourist who imports an untaxed cannabinoid product into the state does not need to file the statement described in Subsection (3) or pay the tax if the cannabinoid product is for the tourist’s own use or consumption while in this state.
(5) In addition to the tax required by this part, a person shall pay a penalty as provided in Section 59-1-401 , plus interest at the rate and in the manner provide in Section 59-1-402 , if a person subject to this section fails to:
(5)(a) pay the tax imposed by this part;
(5)(b) pay the tax on time; or
(5)(c) file a return or statement required by this part.
(6) An overpayment of a tax imposed by this part shall accrue interest at the rate and in the manner provided in Section 59-1-402 .
(7)
(7)(a) The commission shall retain and deposit an administrative charge in accordance with Section 59-1-306 from revenue generated by the tax under this part.
(7)(b) The commission shall deposit 47% of the revenue generated by the tax imposed by this part into the General Fund and the remaining revenue into the Cannabinoid Proceeds Restricted Account created in Section 59-31-401 .