What is a Corporation?
Corporation means a domestic or foreign, profit or nonprofit, business organization that is registered as a corporation or is authorized to do business in a state and makes any expenditure from corporate funds for:
- The purpose of expressly advocating for political purposes; or
- The purpose of expressly advocating the approval or the defeat of any ballot proposition.
Corporation does not mean:
- A business organization's political action committee or political issues committee; or
- A business entity organized as a partnership or a sole proprietorship.
Information Corporations Must Report (Utah Code 20A-11-701)
Under a Consent Decree in United States District Court, the State of Utah will not enforce the donor reporting requirements of Utah Code 20A-11-701 to 702, created by H.B. 43 (2013), unless the corporation's major purpose is political advocacy or political issue advocacy related.
As of May 12, 2015, a corporation is not required to report an expenditure made to a reporting entity that the reporting entity is required to include in a financial statement described in Utah Code Title 20A, Chapters 11 and 12 (e.g., a corporation is not required to report an expenditure made to a legislative candidate because legislative candidates are required to file reports with the Lt. Governor's Office on disclosures.utah.gov).
A corporation can make unlimited expenditures for political purposes or political issues in Utah.
- Expenditures made for political purposes include those made with the intent of directly or indirectly influencing people to vote for or against any candidate for public office. Corporations can make political expenditures by contributing to a candidate's personal campaign committee, a political action committee, a political issues committee, or a political party.
- Expenditures made for political issues include influencing the approval or defeat on any current or proposed ballot issues.
A financial disclosure report must include the following information:
- The name and addresses of each reporting entity that received an expenditure from the corporation, and the amount of the expenditure; and
- The total amount of expenditures disbursed by the corporation (since the last financial statement and during the calendar year).
Non-monetary/In-Kind Contributions or Expenditures
The corporation must report the fair market value of each non-monetary contribution or expenditure that it receives or makes.
All reports must be submitted electronically via the website disclosures.utah.gov.
Any corporation that fails to file its financial disclosure reports is guilty of a class B misdemeanor and may be subject to a fine of $100. The Lt. Governor is required to report those who fail to file to the Attorney General.
A corporation is required to file a financial disclosure report with the Lt. Governor's Office once it spends $750 in a calendar year for political purposes or political issues. If a corporation does not make any expenditures during a reporting period, the corporation is not required to file a financial disclosure report.
A corporation submitting a financial disclosure report must answer whether the corporation - including any officer of the corporation, director, or person with at least 10% ownership in the corporation - has bid or is currently bidding on a state contract, or is a party to a state contract in excess of $100,000.
Financial Disclosure Report Deadlines
|Type of Report||Due Date||What the report includes||Penalty for failure to file report by due date*|
|Convention||7 days before the party convention in even numbered years||Expenditures and contributions as of 5 days before the due date.||
|Primary||7 days before the primary election in even numbered years||Expenditures and contributions since the last report as of 5 days before the due date.||$100 fine|
|September 30th||September 30 of every year||Expenditures and contributions since the last report as of 5 days before the due date.||$100 fine|
|General||7 days before the general election in even numbered years||Expenditures and contributions since the last report as of 5 days before the due date.||$100 fine|
|Year End||January 10 of every year||All expenditures and contributions since the last report through December 31st.||$100 fine|
*The deadline to pay a fine to the Lt. Governor's Office is 30 days after the day on which the fine is imposed.
To view Corporate disclosures, click here.