![]() This credit phases out above a certain income level that's dependent on your filing status. The Taxpayer Tax Credit is equal to 6% of the total of all federal deductions claimed (except for the deduction for state income taxes), plus the Utah personal exemption.All credits are subtracted directly from total income tax liability. ![]() Likewise, Social Security income in Utah is taxable, but the Retirement Income Tax Credit helps alleviate the tax burden for retirees. There are no itemized or standard deductions in Utah, but the Taxpayer Tax Credit, described below, is based on federal deductions and can lower the tax burden for taxpayers at lower income levels. Additional exemptions can be claimed for dependents with disabilities. Exemptions can be claimed for filers, spouses and dependents. In Utah, you can claim a personal exemption of $579 for each dependent you claimed on your federal tax return. Taxable income is calculated by subtracting all personal exemptions from total income. There is a single, flat rate paid by all income earners: 4.85% of their taxable income. Personal income taxes in Utah are relatively simple when compared to the federal income tax. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. Depending on where you live in Utah, your level of tax burden can vary a bit.Ī financial advisor can help you understand how taxes fit into your overall financial goals. Overall, taxpayers in Utah face a relatively low state and local tax burden. Homeowners in Utah also pay exceptionally low property taxes, with an average effective rate of just 0.52%. Sales taxes in Utah range from 4.85% to 9.05%, depending on local rates. The state of Utah has a single personal income tax, with a flat rate of 4.85%. ![]() Gas tax: 31.90 cents per gallon of regular gasoline and diesel.Property tax: 0.52% average effective rate.
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