Business Law Section

Sen. Gene Davis has proposed legislation for the 2012 General Session which modifies the Utah Revised Business Corporation Act to allow domestic corporations to transfer to another state. Our Section has been asked to provide comments regarding the proposed bill to the bar's Governmental Relations Committee. You can review the language of the bill here: Download file. Post your comments below or send them directly to our Vice Chair, Steve Clayton at sclayton@cottonwoodcap.com. The sooner you share your input, the more likely it is to be considered. Thanks!

Today Sen. Lyle Hillyard introduced S.B. 256 to the State Legislature which if passed (as expected) will extend the effective date of the new partnership and LLC acts from July 1, 2012 to July 1, 2013. You can look at the language of the bill via the link below. We have been told that the purpose of the delay is to provide the legislature more time to draft additional amendments to the partnership acts to harmonize them with the new Utah Revised Uniform Limited Liability Company Act. Stay tuned... we'll update you as more information becomes available.
Download file

Our Section has been asked by the Governmental Relations Committee to review S.B. 27 sponsored by Senator Howard Stephenson. The bill is intended to address issues raised by the Supreme Court’s Ivory Homes v. Utah State Tax Comm’n opinion (look under the “Recent Case Law” category for a summary of that case). The overall effect of the amendment appears to make it easier for a taxpayer to seek a refund of “overpayments” which it discovers after a vendor fails to separate out non-taxable items when applying sales tax on their invoices. You can review the bill and its status via the following link: http://le.utah.gov/~2012/htmdoc/sbillhtm/SB0027.htm . If you have any strong feelings about the bill or the way it is drafted please contact the Section Secretary Brent Clayton at brent@hsblegal.com as soon as possible.