BEFORE THE UTAH STATE TAX
COMMISSION
_____________________________________
XXXXX, )
:
Petitioner, )
:
) STIPULATION
AND ORDER
:
v. )
:
Auditing
Division, ) Appeal No. 86-0371
UTAH STATE TAX
COMMISSION, : Audit Period: XXXXX
) through
XXXXX
:
Respondent. )
_____________________________________
STIPULATION
The
Petitioner, XXXXX, and the Respondent, the Auditing Division of the Utah State
Tax Commission, by and through their respective counsel, hereby stipulate and
agree as follows with respect to the issues involved in the audit report issued
by the Division pertaining to the sales and use tax claimed by the Division to
be owed by Petitioner in connection with Petitioner's purchase of a XXXXX
aircraft and its trade-in of a XXXXX aircraft:
1. Petitioner will pay Respondent $$$$$ ($$$$$)
in full settlement of Petitioner's sales and use tax assessment for the audit
period XXXXX through XXXXX, involved in Appeal No. 86-0371. The $$$$$ ($$$$$) represents tax and
interest liability for sales and use tax which relate to the purchase by
Petitioner of a XXXXX Jet aircraft and its trade in of a XXXXX Air aircraft.
2. Petitioner and Respondent agree that said
$$$$$ ($$$$$) shall be paid as follows:
(A) $$$$$ ($$$$$) upon
the execution of this agreement.
(B)
The balance of $$$$$ ($$$$$), together with interest thereon at 12% per annum,
in six equal installments of $$$$$ ($$$$$), said installments due on XXXXX,
XXXXX, XXXXX, XXXXX, XXXXX and the final payment XXXXX.
3. Petitioner and Respondent agree that this
settlement is strictly confidential.
4. Petitioner and Respondent further agree that
neither Petitioner nor Respondent may use this settlement in evidence in any
legal proceedings.
5. Petitioner and Respondent further agree that
should Petitioner fail to make any of the above-referenced payments, that the
entire amount then due to Respondent under this agreement shall become
immediately due and payable and that Respondent may proceed to collect said
full amount without further notice to Petitioner.
6. Petitioner and Respondent further agree that
the above-referenced appeal pending before the Utah State Tax Commission shall
be dismissed with prejudice.
DATED
this 20 day of October, 1988.
XXXXX
Assistant Attorney General
XXXXX
Attorney for Petitioner
ORDER
The
Tax Commission hereby approves the settlement terms contained in the attached
and foregoing stipulation. All claims
regarding sales and use tax deficiency for the period XXXXX through XXXXX shall
be dismissed with prejudice, upon payment by Petitioner to Respondent of $$$$$
($$$$$), plus appropriate interest on the installment payments, in the manner
set forth in the foregoing stipulation.
DATED
this 21 day of October, 1988.
R. H. Hansen, Chairman ROGER
O. TEW, Commissioner
JOE B. PACHECO, Commissioner G.
BLAINE DAVIS Commissioner