Does Utah Have a Minimum Tax?

by

Utah Tax Information

  • The state of Utah has a single personal income tax, with a flat rate of 4.95%.
  • Sales taxes in Utah range from 6.10% to 9.05%.
  • Utah payroll taxes include income tax, unemployment insurance, and federal taxes.
  • The state minimum wage matches federal rates of $7.25 standard and $2.13 tipped.

Utah Tax Rates

  • Utah has a flat income tax rate of 4.95% for all income levels.
  • Eleven states have flat tax rates.
  • Utah 2023 marginal tax rate is 4.65%.

Utah Tax Credits and Regulations

  • Tax credits in Utah reduce tax liability.
  • Utah doesn’t offer traditional deductions.
  • Utah doesn’t require quarterly estimated tax payments.

Utah Sales and Property Taxes

  • Utah property tax rate is 0.58%.
  • Utah sales tax rate is 5.95% plus local taxes.
  • Median property tax rates in Utah are fairly low compared to other states.

Utah Corporate Taxes

  • Utah corporations are subject to 5% franchise tax on net income.
  • The corporate income tax is calculated at a flat 5% of Utah taxable income.
  • The Utah corporate income tax is a flat 5% with a minimum tax of $100.

Utah Tax Filing and Registration

  • To register payroll taxes, complete the registration form at OneStop portal.
  • To submit payroll taxes, enroll in Utah’s Taxpayer Access Point.
  • Can prepay Utah taxes anytime or get automatic 6-month extension to file return.

Leave a Comment