59-7-503 - Return where period changed. - Utah Statutes

59-7-503. Return where period changed.
(1) If a corporation changes its taxable year in accordance with Section 59-7-502, a shortperiod return shall be made for the period of less than 12 months between the close of the lasttaxable year for which a return was made and the close of the new taxable year.
(2) Where a short period return is made under Subsection (1) on account of a change inthe accounting period, and in any other case where a short period return is required or permittedby rules prescribed by the commission to be made for a fractional part of a year, the tax shall becalculated at the rate provided in Section 59-7-104 for the period covered by the return assignableto business done in Utah.

Renumbered and Amended by Chapter 169, 1993 General Session