Uniform Business Tax Act of 1991

Uniform Business Tax Act of 1991 - Amends the Internal Revenue Code to impose a uniform nine percent tax on the taxable value of property and services produced and sold in the United States by a taxable business. Provides that the taxable value shall be equal to the net business receipts of the business. Declares that the minimum tax shall not be less than the sum of employer payroll taxes. Allows as a credit against the uniform business tax for any taxable year of an amount equal to the minimum uniform business tax credit for such year. (Provides a formula for determining such minimum tax credit.)

Defines net business receipts as the excess of business receipts over business expenses.

Defines business receipts as the aggregate amount received in connection with a business from: (1) the sale or rental of property located in the United States; (2) the performance of services in the United States; or (3) the sale or use of intangibles (such as copyrights, patents, franchise rights, and know-how) in the United States. Excludes receipts from exports and certain other receipts.

Defines business expenses as any amount paid by the taxpayer with respect to a business of the taxpayer for the purchase or use of property or for the purchase of services. Specifies expenses that are not included as business expenses.

Sets forth special rules for determining business receipts and expenses with respect to: (1) sales of property; (2) services performed both inside and outside the United States; (3) exchanges treated as sales; (4) intermediation services in the case of insurance activities; and (5) sale or lease payments received in more than one taxable period. Provides special rules for possessions corporations in determining net business receipts.

Provides that the uniform business tax will not be imposed on tax-exempt organizations.

Defines a taxable business as: (1) any C corporation (any corporation other than a small business corporation); and (2) any other taxpayer with business receipts in excess of $50,000.

Sets forth administrative provisions concerning the time for filing returns and consolidated returns of an affiliated group of corporations.

Allows a tax credit against the net uniform business tax paid or incurred by an eligible taxpayer (any person liable for such tax).

Imposes a tax on importers of nine percent of the customs value of all imported property for consumption, use, or warehousing, except for items entered into the United States duty-free.

Repeals the: (1) corporate income tax; and (2) corporate minimum tax.

Makes the employment tax on wages and the employer railroad retirement tax on compensation inapplicable to employers subject to the uniform business tax.