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Utah Code — Title 59 (Revenue and Taxation)

Utah Code § 59-7-313

Valuation of property for inclusion in property factor

Official textle.utah.gov

# (1)

Property owned by the taxpayer is valued at its original cost.

# (2)

Property rented by the taxpayer is valued at eight times the net annual rental rate.

# (3)

Net annual rental rate is the annual rental rate paid by the taxpayer less any annual rental rate received by the taxpayer from subrentals.

# (4)

Property owned or rented by an airline is valued as provided in this section, subject to the calculation required by Subsection 59-7-312(2).

Last amended: Amended by Chapter 283, 2008 General Session

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In this chapter (40 sections)
  1. 59-7-117 · Equitable adjustments
  2. 59-7-118 · Section 965, Internal Revenue Code -- Installment payments
  3. 59-7-159 · Review of credits allowed under this chapter
  4. 59-7-201 · Tax -- Minimum tax
  5. 59-7-203 · Computation of Utah taxable income
  6. 59-7-204 · Income attributed to sources within the state
  7. 59-7-205 · Applicability of Parts 5 and 6 of chapter
  8. 59-7-206 · Offsets against tax
  9. 59-7-207 · Corporations becoming subject to tax -- Assessment under…
  10. 59-7-208 · Provisions followed for purposes of tax collected
  11. 59-7-302 · Definitions -- Determination of taxpayer status
  12. 59-7-303 · Apportionable income
  13. 59-7-305 · When taxable in another state
  14. 59-7-306 · Allocation of certain nonbusiness income
  15. 59-7-307 · Allocation of rents and royalties
  16. 59-7-308 · Allocation of capital gains and losses
  17. 59-7-309 · Allocation of interest and dividends
  18. 59-7-310 · Allocation of patent and copyright royalties
  19. 59-7-311 · Method of apportionment of business income
  20. 59-7-312 · Property factor for apportionment of business income --…
  21. 59-7-313 · Valuation of property for inclusion in property factor
  22. 59-7-314 · Averaging property values for inclusion in property factors
  23. 59-7-315 · Payroll factor for apportionment of business income --…
  24. 59-7-316 · Determination of compensation for inclusion in payroll factor
  25. 59-7-317 · Sales factor for apportionment of business income --…
  26. 59-7-318 · Sales of tangible personal property
  27. 59-7-319 · Circumstances under which a receipt, rent, royalty, or sale…
  28. 59-7-320 · Equitable adjustment of standard allocation or apportionment
  29. 59-7-321 · Construction
  30. 59-7-401 · Determining threshold level of business activity for…
  31. 59-7-402 · Water's edge combined report
  32. 59-7-403 · Worldwide combined report
  33. 59-7-404 · Calculation of unadjusted income for combined reporting
  34. 59-7-404.5 · Adjustment to apportionment factors for corporations in a…
  35. 59-7-405 · Commission empowered to make rules
  36. 59-7-501 · Accounting periods -- Methods of accounting
  37. 59-7-502 · Change of taxable year or accounting period
  38. 59-7-503 · Return where period changed
  39. 59-7-504 · Estimated tax payments -- Penalty -- Waiver
  40. 59-7-505 · Returns required -- When due -- Extension of time --…
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