A number of changes and reductions to tax burden of Utahns made it through the Legislature in 2022, but what were they?
This bill will amend the corporate franchise and income tax rates, amend the individual income tax rate, and exempt certain pieces of personal property from sales and use tax.
This bill would provide for a one-time $256 million income tax cut that would be made permanent if income tax receipts continue to grow at a steady pace.
UPDATE: This article now reflects the final Senate Bill 2001, that was passed in special session on December 12, 2019. The following is a commentary on the tax reform proposal passed out by the Tax Restructuring and Equalization...
Limited and Open Government
We will leave discussions about your withholdings to your tax accountant, but we can try to help you understand what has been going on with state taxes in Utah.
As the economy continues to become more service-oriented rather than goods-oriented, Utah needs to adapt by taxing services and reducing overall tax rates. The result could mean a net win for Utah taxpayers—something for which we...
This bill sets up a mechanism by which Utahns who are going to be paying additional state income tax can instead receive those funds back by way of a credit.
This bill lowers the state individual and corporate income tax rates down from 5% to 4.925%, resulting in an $80 million tax cut for Utahns.
Earlier today, the Trafalgar Group (TFG) released a public opinion survey commissioned by Libertas Institute and Americans for Prosperity. The survey showed that only 50% of likely voters support the proposed state income tax...
To track the status of this bill, find it on our Legislation Tracker.Click here to contact the sponsor of the bill to share your thoughts, or click here to email your Senator and Representative about it. Libertas Institute...