 Utah State Tax Summary
Sales Taxes
State Sales Tax: 4.75% (prescription drugs exempt); local option taxes may raise the total tax.
Gasoline Tax: 24.5 cents/gallon
Diesel Fuel Tax: 24.5 cents/gallon
Gasohol Tax: 24.5 cents/gallon
Personal Income Taxes
Tax Rate Range: Low - 2.3%; High - 7%
Income Brackets: Lowest - $863; Highest - $4,313
Number of Brackets: 6
Personal Exemptions: Single - $2,250; Married - $4,500; Dependents - $2,250
Standard Deduction: Federal amount
Medical/Dental Deduction: Federal amount
Federal Income Tax Deduction: 50% of federal taxes
Retirement Income Taxes: Taxpayers 65 and older with income under $25,000 (individual filers) or $32,000 (married filing jointly) may exclude up to $7,500 of Social Security and pension income.
Retired Military Pay: Up to age 65, individual can deduct up to $4,800 of qualified retirement; $7,500 at age 65 or older. Deductions apply to survivor benefits.
Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war.
VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes
Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office.
Property Taxes
Property taxes are assessed and collected locally. The taxable value of a property is 100% of its fair market value, less any exemptions that may be permitted. The assessed valuation of a residential property is 55% of its fair market value. The median rate is $1.30/$1,000. Homeowners 65 and older who earn $23,108 or less can get a credit for property taxes paid up to $616, plus a credit equal to the tax on 20 percent of their property's fair market value. A circuit breaker tax credit for persons age 65 or over (or surviving spouse) permits an abatement or deferral of property taxes but the amount of the credit varies with household income and can apply to the portion of rent that goes to pay property taxes.
Inheritance and Estate Taxes
There is no inheritance and the estate tax is limited and related to federal estate tax collection.
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