BEFORE THE UTAH STATE TAX
COMMISSION
_____________________________________
XXXXX, )
: STIPULATION
AND ORDER
Petitioner, )
:
vs. )
AUDITING
DIVISION, UTAH STATE : Appeal No. 89-0068
TAX
COMMISSION, )
Respondent. :
_____________________________________
STIPULATION
XXXXX
Industries, Inc. (hereafter "XXXXX") and the Auditing Division of the
Utah State Tax Commission (hereafter "Auditing Division" Stipulate as
follows:
1. The Auditing Division issued two statutory
notices of deficiency relating to XXXXX's corporate franchise tax liability for
fiscal years ending XXXXX through XXXXX (hereafter "the audit
period").
2. XXXXX agrees to pay the amount of $$$$$ in
full settlement of the claims of the Auditing Division for the audit period
within 30 days after this stipulation is approved by the Commission. XXXXX agrees to pay additional interest at
the rate of $$$$$ per day from XXXXX until the payment is made.
3. If Utah franchise tax liability for any year
during the audit period is increased or decreased as a result of a federal tax
audit ("RAR"), a deficiency may be asserted by the Auditing Division
or a refund may be claimed by petitioners solely on the issues raised by the
RAR. Any Utah income or loss resulting
from federal audit adjustments shall be calculated using the apportionment
fraction used in the audit.
4. Both parties agree that the settlement of
this matter shall not have any retroactive or prospective application to
periods other than the audit period.
5. The Auditing Division recommends that the
Commission accept the terms of this stipulation in settlement of this matter.
6. The parties understand that this stipulation
is subject to approval by the Commission.
In the event the Commission fails to approve the stipulation, it shall
be without effect and shall not be admissible as evidence against XXXXX or the
Auditing Division.
DATED: March 4, 1991 XXXXX
Staff Vice President,
Taxes
XXXXX Industries, Inc.
DATED: March 12, 1991 XXXXX
Assistant Attorney
General
Attorney for Auditing
Division
ORDER
The
Tax Commission hereby approves the settlement terms contained in the foregoing
Stipulation. The Auditing Division's
claim regarding the corporate franchise tax deficiencies of XXXXX Industries,
Inc. for fiscal years ending XXXXX through XXXXX shall be satisfied by the
receipt of $$$$$ $$$$$ Dollars from XXXXX.
DATED
this 15 day of March, 1991.
BY ORDER OF THE UTAH STATE TAX COMMISSION:
R. H. Hansen Joe
B. Pacheco
Chairman Commissioner
Roger O. Tew G.
Blaine Davis
Commissioner Commissioner