Sen. Michael McKell
Official bill purpose:
This bill imposes a tax on targeted advertising in the state. It:
- Defines terms;
- Imposes an annual tax on entities that deliver targeted advertising in Utah and meet certain revenue thresholds, based on the entity’s gross receipts from targeted advertising in the state;
- Requires entities subject to the tax to annually remit a return to the State Tax Commission that includes information related to the tax;
- Provides for administration and collection of the tax by the State Tax Commission;
- Provides rulemaking authority to the State Tax Commission for administration of the tax;
- Establishes the Targeted Advertising Restricted Account (restricted account) for the deposit of tax revenue;
- Provides for the use of money deposited into the restricted account; and
- Makes technical and conforming changes.
Read bill details on the official state site.
Association notes/why we’re tracking this:
Watching to make sure the bill does not negatively impact credit unions.
Association posture on the bill:
Monitoring for impact