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Senate approves corporate tax change allowing elective double-weighting of sales
Utah State Senate · March 2, 2005
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Summary
First Substitute House Bill 78, which allows multistate corporations to elect double-weighting of the sales factor for apportioning income among states, passed the Utah Senate; sponsors said it is a technical change and not a repeal of corporate taxes, and the fiscal note was cited at approximately $7 million.
The Utah Senate on March 2 passed First Substitute House Bill 78, a technical change in the corporate franchise and income tax allocation formula that permits corporations with multistate activities to elect to double-weight sales…
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