59-7-104 - Tax -- Minimum tax.
59-7-104. Tax -- Minimum tax.
(1) Each domestic and foreign corporation, except those exempted under Section59-7-102, shall pay an annual tax to the state based on its Utah taxable income for the taxableyear for the privilege of exercising its corporate franchise or for the privilege of doing business inthe state.
(2) The tax shall be 5% of a corporation's Utah taxable income.
(3) The minimum tax a corporation shall pay under this chapter is $100.
Repealed and Re-enacted by Chapter 169, 1993 General Session