At a time when people are making cuts to their own budget, the state government needs to strongly consider giving back excess revenue to the people it took it from.
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.
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.
