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Senate amends business-income tax rules; lawmakers press for clearer fiscal note
Summary
Senators amended S.B. 72 to clarify when businesses are categorized for single-sales-factor tax treatment and adopted a sponsor amendment intended to neutralize the fiscal impact; members pressed the Tax Commission and bill sponsors for a revised fiscal note after inconsistent figures appeared.
SALT LAKE CITY — The Utah Senate advanced an amended S.B. 72 on business income tax methodology after lawmakers questioned the bill’s fiscal-note estimates and sought clarification on the practical effects of the change.
Senator Harper, sponsor of the measure, said the measure will clarify how taxpayers are characterized into industries for single-sales-factor tax treatment and prevent ambiguity that has existed since 2009. "The purpose of Senate Bill 72 is to clarify the standard so…
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