Section 63N-4-402 - DefinitionsAs used in this part:
(1)(a) "Business entity" means a sole proprietorship, partnership, association, joint venture, corporation, firm, trust, foundation, or other organization or entity used in carrying on a business.(b) "Business entity" does not include a business primarily engaged in the following:(iv) public utility activities.(2) "Grant" means a grant awarded as part of the Rural Employment Expansion Grant Program created in Section 63N-4-403.(3) "Grant program" means the Rural Employment Expansion Grant Program created in Section 63N-4-403.(4) "Mining company" means an entity whose primary business is the exploration for or extraction of minerals from the earth.(5) "Mining services company" means an entity whose primary business is providing support services for a mining company, including drilling or geological modeling.(6)(a) "Owner or officer" means an individual who owns an ownership interest in an entity or holds a position where the person has authority to manage, direct, control, or make decisions for:(i) the entity or a portion of the entity; or(ii) an employee, agent, or independent contractor of the entity.(b) "Owner or officer" includes:(i) a member of a board of directors or other governing body of an entity; or(ii) a partner in any type of partnership.(7) "Rural county" means a county of the third, fourth, fifth, or sixth class.Amended by Chapter 362, 2022 General Session ,§ 64, eff. 7/1/2022.Amended by Chapter 465, 2019 General Session ,§ 8, eff. 5/14/2019, retrospective operation for a taxable year beginning on or after January 1, 2019.Amended by Chapter 45, 2019 General Session ,§ 1, eff. 5/14/2019.Added by Chapter 340, 2018 General Session ,§ 4, eff. 5/8/2018.Affected by 63I-1-263 on 7/1/2023