59-1-1304 - Penalty for taxpayer failure to disclose a reportable transaction. - Utah Statutes

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Statutes > Utah > Title-59 > Chapter-01 > 59-1-1304

59-1-1304. Penalty for taxpayer failure to disclose a reportable transaction.
(1) (a) Except as provided in Subsection (1)(b), a taxpayer that fails to disclose areportable 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 59-1-1303is subject to a penalty of $30,000.
(2) A penalty imposed by this section is in addition to any other penalty imposed by thistitle.

Enacted by Chapter 237, 2006 General Session

State Codes and Statutes

Statutes > Utah > Title-59 > Chapter-01 > 59-1-1304

59-1-1304. Penalty for taxpayer failure to disclose a reportable transaction.
(1) (a) Except as provided in Subsection (1)(b), a taxpayer that fails to disclose areportable 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 59-1-1303is subject to a penalty of $30,000.
(2) A penalty imposed by this section is in addition to any other penalty imposed by thistitle.

Enacted by Chapter 237, 2006 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-59 > Chapter-01 > 59-1-1304

59-1-1304. Penalty for taxpayer failure to disclose a reportable transaction.
(1) (a) Except as provided in Subsection (1)(b), a taxpayer that fails to disclose areportable 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 59-1-1303is subject to a penalty of $30,000.
(2) A penalty imposed by this section is in addition to any other penalty imposed by thistitle.

Enacted by Chapter 237, 2006 General Session