Utah § 59-1-1307 - Material advisor maintenance of list.
Full text of Utah Utah Code § 59-1-1307 — Material advisor maintenance of list., with citation guidance and answers to common questions.
§ 59-1-1307. Material advisor maintenance of list.
59-1-1307.
Material advisor maintenance of list.
(1)
For each reportable transaction, a material advisor shall maintain a list of the persons to which the material advisor provides material aid, assistance, or advice with respect to organizing, managing, promoting, selling, implementing, insuring, or carrying out a reportable transaction.
(2)
The list described in Subsection (1) shall include:
(a)
the name of each person described in Subsection (1) that is:
(i)
a taxpayer;
(ii)
(A)
a taxpayer; and
(B)
a member of a unitary group; or
(iii)
(A)
a taxpayer; and
(B)
included in a federal consolidated return under Sections 1501 and 1504(b), Internal Revenue Code;
(b)
the same information required to be contained in the list described in 26 C.F.R. Sec. 301.6112-1; and
The list described in Subsection (1) shall be maintained in the same form and manner as the list described in 26 C.F.R. Sec. 301.6112-1.
(4)
A material advisor required to maintain a list under Subsection (1) shall:
(a)
make the list available to the commission upon written request by the commission; and
(b)
retain the information that is required to be included on the list for seven years.
(5)
In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commission shall make rules prescribing that only one person may be required to meet the requirements of this section if two or more persons would otherwise be required to meet the requirements of this section.
Section 59-1-1307 ("Material advisor maintenance of list.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 59-1-1307?
A common citation format is "Utah Code § 59-1-1307" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 59-1-1307 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
