89-0009 - Corporate Franchise

BEFORE THE TAX COMMISSION OF UTAH

_____________________________________

XXXXX

                                                                                    )           ORDER

            Petitioner,                                                         :

vs.                                                                                )           Appeal No 89-0009

STATE TAX COMMISSION OF UTAH,                  :

            Respondent.                                                     )

_____________________________________

            COMES NOW the Utah State Tax Commission and adopts as its order the terms and conditions of that certain Stipulation and Agreement re Settlement of Issues, a copy of which is attached hereto as Exhibit A and is hereby incorporated by reference.

            DATED this 23rd day of January, 1990

R. H. HANSEN, Chairman                                          JOE B. PACHECO, Commissioner

ROGER O. TEW, Commissioner                                 G. BLAINE DAVIS, Commissioner

 

BEFORE THE STATE TAX COMMISSION OF UTAH

______________________________

XXXXX

            Petitioner,                                                         )           STIPULATION AND AGREEMENT

                                                                                    :           RE: SETTLEMENT OF ISSUES

v.                                                                                 )

                                                                                    :           Appeal No 89-0009

STATE TAX COMMISSION OF UTAH,                  )

            Respondent.                                                     :

________________________________

            COMES NOW XXXXX Company and the State Tax Commission of Utah and hereby stipulate and agree as follows:

            1.  The issue involved in this proceeding is whether or not for its taxable years XXXXX through XXXXX, inclusive, Petitioner and its affiliated corporations were conducting an integrated unitary business and were required to report their income by the combined reporting method for Utah Corporation Franchise Tax purposes.

            2.  The proposed deficiency for the years under audit involves an additional tax in the amount of $$$$$ together with accrued interest

            3.  During the pendency of this proceeding the State Tax Commission of Utah has presented to the Petitioner a form of Unitary Business Concession Letter requesting that petitioner sign this letter agreeing to the taxation of its income and that of its affiliates by the combined reporting method for Utah Corporation Franchise Tax purposes for the years XXXXX to XXXXX, inclusive A copy of said letter is attached hereto as Exhibit "A," incorporated herein and by reference made a part hereof.

            4,  Petitioner hereby agrees that it will accept and pay the deficiency, as assessed by Respondent, for the taxable years XXXXX through XXXXX, inclusive.

            5.  State Tax Commission of Utah agrees that in consideration of the concession by Petitioner for the earlier years, that the execution of this Stipulation and Agreement shall have the same legal effect as if Petitioner had executed, and the State Tax Commission had accepted, the Unitary Business Concession Letter for the years XXXXX through XXXXX, inclusive, and that Petitioner will utilize the unitary or combined reporting method.

            6.  No Utah losses will be allowed to be carried forward or carried back between worldwide combination years and water's edge combination years If there is a loss under water's edge for XXXXX or XXXXX, the loss may not be carried back to any year prior to XXXXX, but may be carried forward.

            7.  It is understood and agreed that the State Tax commission may enter a final order in this proceeding based upon this Stipulation and Agreement.

            Dated this 16th day of January, 1990

            PETITIONER                                                  :           XXXXX &

            XXXXX

            XXXXX

            Chief Tax Attorney and Assistant

            Tax Officer

            RESPONDENT                                               :           STATE TAX COMMISSION OF UTAH

            By: XXXXX

            Director Auditing Division

APPROVED:

XXXXX

By: XXXXX

Attorneys for Petitioner

ATTORNEY GENERAL OF UTAH

By XXXXX

Assistant Attorney General

Tax and Business Regulation Division