§ 59-10-510. Return of electing small business corporation.

     An electing small business corporation, as defined in Section 1371(a)(2), Internal Revenue Code, shall make a return for each taxable year, stating specifically:

(1) the items of the electing small business corporation's gross income and the deductions allowable by Subtitle A, Internal Revenue Code;

(2) the names and addresses of all persons owning stock in the electing small business corporation at any time during the taxable year;

(3) the number of shares of stock owned by each shareholder at all times during the taxable year to each shareholder;

(4) the date of each distribution to a shareholder; and

(5) other information as the commission may prescribe by:

(a) form; or

(b) administrative rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.

Amended by Chapter 212, 2009 General Session