59-8-102 - Purpose.
59-8-102. Purpose.
The purpose of this chapter is to provide for the imposition of an in lieu excise tax on thegross receipts of corporations, other than those described in Subsection 59-7-102(2),eleemosynary, religious, or charitable institutions, operating in this state who are not otherwiserequired to pay income or franchise taxes to the state or to declare dividends.
Amended by Chapter 311, 1995 General Session