Utah HB0362 allows mine owners and operators to pay mining severance taxes with gold, provides a tax credit for gold payments, and makes technical.
Utah HB0362 amends tax laws to allow certain mine owners and operators to pay mining severance taxes with gold. It provides a nonrefundable tax credit for mine owners or operators who use gold to pay mining severance taxes for specified years. The bill also makes technical and conforming changes to various sections of the Utah Code, including adjustments to tax rates, definitions, and reporting requirements. The changes are set to take effect for a future taxable year beginning on or after January 1, 2028.
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