59-10-544. General powers and duties of the commission -- Deposit, distribution, or credit of revenues -- Refund reverts to state under certain circumstances.

262 words·~1 min read·/ut/title-59/chapter-10/59-10-544

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 3/24/2022

(a)The commission shall administer and enforce a tax imposed under this chapter for which purpose it may divide the state into districts in each of which a branch office of the commission may be maintained.

(b)A county may not be divided in forming a district.

(a)The commission shall deposit at least quarterly all revenue collected or received by the commission under this chapter with the state treasurer.

(b)Subject to Sections 59-10-529 and 59-10-531 , the commission shall distribute and credit, at least quarterly and based on a pro rata share of Income Tax Fund and Uniform School Fund appropriations for the current fiscal year, the revenue described in Subsection (2)(a) to:

(i)the Income Tax Fund; and

(ii)the Uniform School Fund in accordance with Section 53F-9-201.1 .

(c)The commission may credit to or draw from the Income Tax Fund and the Uniform School Fund:

(i)annually to adjust for differences between estimates and actual amounts; or

(ii)in the proportion described in Subsection (2)(b) to issue a refund.

(d)If a refund the commission makes is not claimed within two years from the date the commission issues the refund:

(i)the refund reverts to the state to be credited to the Income Tax Fund; and

(ii)no further claim may be made on the commission for the amount of the refund.

Amended by Chapter 456 , 2022 General Session