Imposition of tax on targeted advertising entities -- Apportionment methodology -- Return -- Deposit of tax revenue

(1) Beginning January 1, 2027, there is annually levied a tax on a targeted advertising entity as provided in this section. (2) The tax imposed in this section: (a) is in addition to all other taxes; and (b) is an amount equal to the product of: (i) the rate specified in Subsection 59-12-103(2)(a)(i)(A); and (ii) subject to Subsection (3), the targeted advertising entity's gross receipts for the taxable year derived from targeted advertising in the state. (3) The amount described in Subsection (2)(b)(ii) is equal to the product of: (a) the targeted advertising entity's gross receipts for the taxable year derived from all targeted advertising, regardless of delivery location; and (b) an amount determined by dividing: (i) the number of impressions the targeted advertising entity delivers during the taxable year to an audience or individual located in Utah; and (ii) the number of impressions the targeted advertising entity delivers during the taxable year to all audiences or individuals, regardless of location. (4) A targeted advertising entity shall annually remit to the commission a return on the tax imposed in this section in an electronic format prescribed by the commission that: (a) covers the period for which the tax is due; and (b) includes any information the commission requires to: (i) confirm the applicability of the tax imposed in this section; and (ii) determine the amount described in Subsection (2)(b)(ii). (5) The commission shall deposit revenue from the tax imposed in this section into the Targeted Advertising Tax Restricted Account created in Section 59-35-203.