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Below is a snapshot of key features of Utah's tax system. (Scroll Down)
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State & Local Revenue (FY08)
- General Revenue, Own-Source (GROS): $15.1 billion
- General Revenue as a Share of Income: 17.6%
- Tax Revenue: $9.4 billion
- Tax Revenue as Share of income: 10.9%
- Personal Income Tax (Share of Tax Revenue): 27.7% (14 out of 51)
- Corporate Income Tax (Share of Tax Revenue): 4.2% (19 out of 51)
- Sales & Excise Tax (Share of Tax Revenue): 38.2% (15 out of 51)
- Property Tax (Share of Tax Revenue): 23.7% (40 out of 51)
- Other Taxes (Share of Tax Revenue): 1.1% (40 out of 51)
Personal Income Tax Features (2011)
- Range of Tax Rates: 5%
- Standard Deduction: None
- Personal Exemption: None
- Dependent Exemption: None
- Earned Income Tax Credit (EITC): None
- Flat income tax rate structure
- Targeted credit offered instead of standard deduction and personal exemption
Corporate Income Tax Features (2011)
- Range of Tax Rates: 5.00%
- Income Level at Which Top Rate Applies: All
- Combined Reporting: Yes
- Apportionment Factor (Payroll): 25%
- Apportionment Factor (Property): 25%
- Apportionment Factor (Sales): 50%
- Apportionment Note: Certain corporations (including manufacturers) use specified formula; all others use equally weighted formula
Sales Tax Features (2011)
- State Sales Tax Rate: 5.95%
- Average Local Sales Tax Rate: 0.75%
- Average Combined State & Local Sales Tax Rate: 6.70%
- State Sales Tax Treatment of Groceries: 1.75%
- Local Sales Tax Treatment of Groceries: Taxed
- Number of Services Taxed: 58 out of 168 surveyed
- Streamlined Sales Tax Membership: Associate
- State sales tax includes 1.25% statewide local add-on rate
- Vendor Compensation available without ceiling
Property Tax Features (2011)
- Utilizes split roll system - residential property assessed at 55% of market value.
Other Tax & Revenue Features (2011)
- Gasoline Tax Rate (per gallon): $0.245
- Diesel Tax Rate (per gallon): $0.245
- Cigarette Tax Rate (per pack): $1.70
- Estate or Inheritance Tax: No
- Net Lottery Sales Per Capita: N/A
Tax Policy Oversight
- Tax Expenditure Report: Yes, but excludes at least one major tax
- Tax Incidence Analysis Capability: None
Last Updated August 25, 2011
Sources & Glossary
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