March 27th Afternoon State Tax Update
Massachusetts, Ohio, and West Virginia have newly extended their income tax filing and payment deadlines to match the July 15 federal deadline.
3 min readHow does Utah’s tax code compare? Utah has a flat 4.55 percent individual income tax rate. Utah has a 4.55 percent corporate income tax rate. Utah also has a 6.10 percent state sales tax rate and an average combined state and local sales tax rate of 7.25 percent. Utah has a 0.47 percent effective property tax rate on owner-occupied housing value.
Utah does not have an estate tax or inheritance tax. Utah has a 37.15 cents per gallon gas tax rate and a $1.70 cigarette excise tax rate. The State of Utah collects $5,616 in state and local tax collections per capita. Utah has $6,583 in state and local debt per capita and has a 107 percent funded ratio of public pension plans. Overall, Utah’s tax system ranks 8th on our 2024 State Business Tax Climate Index.
Each state’s tax code is a multifaceted system with many moving parts, and Utah is no exception. The first step towards understanding Utah’s tax code is knowing the basics. How does Utah collect tax revenue? Click the tabs below to learn more! You can also explore our state tax maps, which are compiled from our annual publication, Facts & Figures 2024: How Does Your State Compare?
Massachusetts, Ohio, and West Virginia have newly extended their income tax filing and payment deadlines to match the July 15 federal deadline.
3 min readWhile lawmakers are working through the design of vapor tax proposals, they must thread the needle between protecting adult smokers’ ability to switch and barring minors’ access to nicotine products. A good first step is creating appropriate definitions for the new nicotine products to avoid unintended disproportionate taxation based on design differences or bundling.
7 min readTaxing GILTI puts states at a competitive disadvantage compared to their peers—all for a tax that makes very little sense at the state level, and which legislators never sought in the first place.
5 min readOur updated 2020 edition of Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
1 min readFrom remote sales tax collection to taxes on marijuana and vaping products, we recap the top state tax trends from 2019 and break down which ones you should watch for in 2020.
38 min readBy almost any measure, Utah is, and deserves to be, the envy of its peers. Utah leads the country in job growth, and the state’s economy has grown at twice the rate of the nation at large. Utah’s income tax reforms adopted in 2007 established a model for other states to follow. But today, some of these gains are being undone—not by conscious policy choices, but by their absence.
6 min readOur updated 2019 edition of Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
1 min read