Going into the 2021 session, legislative leaders were committed to a tax cut of at least $80 million, but that number ended up being closer to $100 million. Though there were proposals for a broad income tax rate cut, the...
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.
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.