Facts & Figures 2024: How Does Your State Compare?
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.
2 min read
Utah Tax Rates, Collections, and Burdens
How 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?
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Featured Articles
2024 State Business Tax Climate Index
In recognition of the fact that there are better and worse ways to raise revenue, our Index focuses on how state tax revenue is raised, not how much. The rankings, therefore, reflect how well states structure their tax systems.
111 min read
State and Local Sales Tax Rates, 2024
Retail sales taxes are an essential part of most states’ revenue toolkits, responsible for 32 percent of state tax collections and 13 percent of local tax collections (24 percent of combined collections).
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State Individual Income Tax Rates and Brackets, 2024
Individual income taxes are a major source of state government revenue, accounting for more than a third of state tax collections. How do income taxes compare in your state?
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State and Local Tax Burdens, Calendar Year 2022
Tax burdens rose across the country as pandemic-era economic changes caused taxable income, activities, and property values to rise faster than net national product. Tax burdens in 2020, 2021, and 2022 are all higher than in any other year since 1978.
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State Corporate Income Tax Rates and Brackets, 2024
Graduated corporate rates are inequitable—that is, the size of a corporation bears no necessary relation to the income levels of the owners.
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State Tax Changes Taking Effect January 1, 2024
Thirty-four states will ring in the new year with notable tax changes, including 15 states cutting individual or corporate income taxes (and some cutting both).
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Personal Property De Minimis Exemptions Slash Compliance Burdens at Trivial Cost
All policy choices involve trade-offs—but occasionally, the ratio of costs and benefits is shockingly lopsided. Adopting a de minimis exemption for tangible personal property (TPP) taxes is just such a policy: one which massively reduces compliance and administrative burdens at trivial cost.
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Cigarette Taxes and Cigarette Smuggling by State, 2021
People respond to incentives. As tax rates increase or products are banned from sale, consumers and producers search for ways around these penalties and restrictions.
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How High Are State and Local Tax Collections in Your State?
Contrary to initial expectations, the pandemic years were good for state and local tax collections, and while the surges of 2021 and 2022 have not continued into calendar year 2023, revenues remain robust in most states and well above pre-pandemic levels even after accounting for inflation.
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Taxes and Interstate Migration: 2023 Update
The latest IRS and Census data show that people and businesses favor states with low and structurally sound tax systems, which can impact the state’s economic growth and governmental coffers.
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Excise Taxes and Fees on Wireless Services Drop Slightly in 2023
To alleviate the regressive impact on wireless consumers, states should examine their existing communications tax structures and consider policies that transition their tax systems away from narrowly based wireless taxes and toward broad-based tax sources.
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Short FormDo People Really Move Because of Taxes?
What do The Rolling Stones, NFL star Tyreek Hill, and Maryland millionaires have in common? They all moved because of taxes.
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2024 State Business Tax Climate Index
In recognition of the fact that there are better and worse ways to raise revenue, our Index focuses on how state tax revenue is raised, not how much. The rankings, therefore, reflect how well states structure their tax systems.
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Real Value of $100 by Metropolitan Area, 2023
The differences in purchasing power can be large and they have significant implications for the relative impact of economic and tax policies across the United States.
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