95-0128

Income Tax

Signed 11/30/95

BEFORE THE UTAH STATE TAX COMMISSION

____________________________________

XXXXX, )

) ORDER

Petitioners, )

vs. ) Appeal No. 95‑0128

)

AUDITING DIVISION OF THE ) Audit Period: XXXXX

UTAH STATE TAX COMMISSION, ) through XXXXX

)

Respondent, )

_____________________________________

The Utah State Tax Comrnission hereby approves settlement on the terms contained in the accompanying Stipulation between XXXXX and XXXXX and the Auditing Division of the Utah State Tax Commission. Upon compliance with the terms of the Stipulation the audit will be deemed fully satisfied. The above captioned appeal, number 95‑0128 is hereby dismissed.

SO ORDERED by the Utah State Tax Commission this 12th day of February, 1996.

W. VAL OVESON, Chariman ROGER O. TEW, Commissioner

JOE PACHECO, Commissioner ALICE SHEARER, Commissioner

BEFORE THE UTAH STATE TAX COMMISSION

____________________________________

XXXXX, )

) STIPULATION

Petitioners, )

vs. ) Appeal No. 95‑0128

)

AUDITING DIVISION OF THE ) Audit Period: XXXXX

UTAH STATE TAX COMMISSION, ) through XXXXX

)

Respondent, )

______________________________________

The parties, by and through undersigned representatives, hereby stipulate as follows:

1. The tax assessment is for Utah individual income tax.

2. The parties agree and recognize that the issues underlying the assessment raise good faith arguments with respect to both parties' positions and present inherent risks of litigation.

3. Accordingly, it is the parties' mutual desire to arrive at a settlement which fully resolves the matter in a satisfactory and economical fashion.

4. Petitioners agree to acknowledge and pay tax liability of $$$$$ and interest calculated through XXXXX of $$$$$, plus accrued interest at statutory rate until paid.

5. Respondent agrees to accept this amount in full and complete satisfaction of the audit assessment.

6. By agreeing to this settlement neither party is conceding the merits of its position nor does the Stipulation estop either party from asserting the positions taken herein in future litigation not involving the current audit period.

7. This agreement is subject to approval of the Utah State Tax Commission and shall become final and conclusive between the parties upon approval by the Utah State Tax Commission as evidenced by a written order. Should the Commission fail to approve the Stipulation it shall be null and void and shall not be admissible as evidence against either party in any proceedings.

8. The parties stipulate the above captioned appeal shall be dismissed upon approval of the Stipulation by the Utah State Tax Commission.

SO STIPULATED this 30th day of November, 1995.

XXXXX, CPA

Representative of Petitioners

XXXXX

Assistant Attorney General

Attorney for Respondent

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