Section 59-7-104 - Tax - Minimum tax(1) Each domestic and foreign corporation, except a corporation that is exempt under Section 59-7-102, shall pay an annual tax to the state based on the corporation's Utah taxable income for the taxable year for the privilege of exercising the corporation's corporate franchise or for the privilege of doing business in the state.(2) The tax shall be 4.55% of a corporation's Utah taxable income.(3) The minimum tax a corporation shall pay under this chapter is $100.Amended by Chapter 255, 2024 General Session ,§ 1, eff. 5/1/2024, retrospectively operative for a taxable year beginning on or after January 1, 2024.Amended by Chapter 459, 2023 General Session ,§ 1, eff. 5/3/2023, retrospective operation for a taxable year beginning on or after January 1, 2023.Amended by Chapter 12, 2022 General Session ,§ 1, eff. 5/4/2022, retrospective operation to January 1, 2022 .Amended by Chapter 354, 2020 General Session ,§ 87, eff. 5/12/2020.Amended by Chapter 1, 2019SP2 General Session ,§ 17, eff. 4/1/2020, which was repealed by Chapter 1, 2020 General Session ,§ 1, eff. 1/29/2020 .Amended by Chapter 418, 2019 General Session ,§ 2, eff. 5/14/2019, op. for a taxable year beginning on or after 1/1/2019.Amended by Chapter 456, 2018 General Session ,§ 30, eff. 5/8/2018, op. 1/1/2018.Repealed and Re-enacted by Chapter 169, 1993 General Session