Tax Reduction

SB 60 proposes lowering the income tax rate from 4.5% to 4.45%, continuing the trend of easing the tax burden on Utahns.
The bill proposes an automatic tax rate adjustment when the state receives a windfall.
This bill provides for small income tax cuts over time through a revenue trigger tied to Utah's GDP growth and income tax growth.
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 are a bit overdue.

Help us Nail and Scale Policies to Reduce Government Control

Your tax-deductible contributions to Libertas Institute increase freedom across the country.