Corporate Disclosures

2015 Financial Disclosure Deadlines

What is a Corporation?

Utah Code 20A-11-101:

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.

To view Corporate disclosures, click here.

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.

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 chapters 11 and 12 (S.B. 207).

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

Required Reports

Type of ReportDue DateWhat the report includesPenalty for failure to file report by due date*
Pre-Convention 7 days before the party convention in a regular election year Expenditures and contributions as of 5 days before the due date.

$100 fine

Pre-Primary 7 days before the primary election in a regular election year Expenditures and contributions since the last report as of 5 days before the due date. $100 fine 
September 30 September 30 of every year Expenditures and contributions since the last report as of 5 days before the due date. $100 fine 
Pre-General Election 7 days before the general election in a regular election year Expenditures and contributions since the last report as of 5 days before the due date. $100 fine 
Year-End January 10th 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 (S.B. 137).

Information Corporations Must Report (Utah Code 20A-11-701)

Contributions
Corporations are required to disclose contributions under certain circumstances. Corporations are also required to send notice to each donor that the contributions may be used for political purposes (Utah Code 20A-11-702).

A financial disclosure report must include the following information:

  • A statement that the corporation did not receive any money from any donor during the calendar year or the previous calendar year that the corporation has not reported in a previous financial statement; OR
  • A report (see details below) of the money received from donors during the calendar year or the previous calendar year that the corporation has not reported in a previous financial statement.

The report described above shall include:

  • The name and address of each donor;
  • The amount of money received by the corporation from each donor; and
  • The date on which the corporation received the money.

Expenditures

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.

Submitting Reports

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.