DAR File No. 40978
This notice was published in the December 1, 2016, issue (Vol. 2016, No. 23) of the Utah State Bulletin.
Tax Commission, Auditing
Rule R865-16R
Severance Tax
Five-Year Notice of Review and Statement of Continuation
DAR File No.: 40978
Filed: 11/10/2016 10:01:29 AM
NOTICE OF REVIEW AND STATEMENT OF CONTINUATION
Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:
Section 59-5-203 indicates how taxable value shall be determined for purposes of imposing the mining severance tax of 2.6% of taxable value. The section requires the Tax Commission to establish a rule setting forth an established authority for market prices of metals and a process for determining the value of metals sold between affiliated companies where a bona fide sale has not taken place.
Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:
No written comments have been received.
Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:
Section R865-16R-1 establishes authority and promulgates processes both required by statute and necessary in the determination of fair market value. The section is necessary to ensure that the measurement of taxable value is consistent among the different taxpayers, thereby ensuring that all pay their fair share of tax. Therefore, this rule should be continued.
The full text of this rule may be inspected, during regular business hours, at the Office of Administrative Rules, or at:
Tax CommissionAuditing
210 N 1950 W
SALT LAKE CITY, UT 84134
Direct questions regarding this rule to:
- Christa Johnson at the above address, by phone at 801-297-3901, by FAX at 801-297-3907, or by Internet E-mail at cj@utah.gov
Effective:
11/10/2016
Authorized by:
Rebecca Rockwell, Commissioner
Additional Information
More information about a Five-Year Notice of Review and Statement of Continuation is available online.
The Portable Document Format (PDF) version of the Bulletin is the official version. The PDF version of this issue is available at https://rules.utah.gov/publicat/bull-pdf/2016/b20161201.pdf. The HTML edition of the Bulletin is a convenience copy. Any discrepancy between the PDF version and HTML version is resolved in favor of the PDF version.
For questions regarding the content or application of this rule, please contact Christa Johnson at the above address, by phone at 801-297-3901, by FAX at 801-297-3907, or by Internet E-mail at cj@utah.gov. For questions about the rulemaking process, please contact the Office of Administrative Rules.