Utah ~ Corporate Income Tax: Allocation and Apportionment Rule Amended

A Utah rule regarding the allocation and apportionment of net income for corporate income tax purposes has been amended to specifically include the following receipts of a corporation as gross receipts attributable to Utah:

— from royalties in connection with real property if the real property is in Utah;

— from other income in connection with real or tangible personal property if the real or tangible personal property is in Utah; and

— in connection with intangible property if the intangible property is used in Utah.

As before, the rule continues to state that the following receipts are also included in gross receipts attributable to Utah: (1) receipts from the performance of a service if the purchaser receives a greater benefit of the service in Utah than in any other state; and (2) receipts from the sale of goods delivered or shipped to a purchaser in Utah, regardless of the F.O.B. point or other conditions of sale.

Rule R865-3C-1, Utah State Tax Commission, effective April 12, 2012

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Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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