taxes

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 Legislature settled on three targeted income tax cut proposals.
Under this bill, certain retirees would receive a non-refundable income tax credit for up to $450 on their social security benefits.
The problem with this practice is that it undermines the important difference between a fee and a tax. Fees are payments in exchange for a quantitative public service while taxes cover the remaining immeasurable services that benefit society as a whole.
The Utah Legislature made some substantial improvements to reduce the compliance burdens of the tangible personal property tax on small businesses.
This bill amends Utah's Constitution to require a 2/3 vote by Utah legislators if they wish to raise taxes.

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