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UTAH TAX RATES |
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The following rates are effective for the taxable years beginning on or after January 1, 1997 until changed by the Legislature.
A. For single taxpayer (except head of household) and for husband and wife filing separate returns:
If state taxable income is: The tax is: Not over $750, 2.3 percent of state taxable income Over $750, but less than $1,500 $17, plus 3.3 percent of excess over $750 Over $1,500, but not over $2,250 $42, plus 4.2 percent of excess over $1,500 Over $2,250, but not over $3,000 $74 plus 5.2 percent of excess over $2,250 Over $3,000, but not over $3,750 $113 plus 6 percent of excess over $3,000 Over $3,750 $158 plus 7.0 percent of excess over $3,750
B. For husband and wife filing joint return and head of household
If state taxable income is: The tax is: Not over $1,500 2.3 percent of state taxable income Over $1,500 but less than $3,000 $35, plus 3.3 percent of excess over $1,500 Over $3,000, but not over $4,500 $84, plus 4.2 percent of excess over $3,000 Over $4,500 but not over $6,000 $147 plus 5.25 percent of excess over $4,500 Over $6,000 but not over $7,500 $225 plus 6 percent of excess over $6,000 Over $7,500 $315 plus 7.0 percent of excess over $7,500
Itemized and standard deductions are the same as currently defined in the Internal Revenue Code, Section 63. Exemptions are defined the same. Seventy -five (75) percent of the federally defined personal exemption amount is allowed as a deduction for determining the Utah adjusted taxable income. One-half of federal income tax is deductible on the Utah income tax return.
Income tax is applicable to all resident individuals and fiduciaries who are required to file returns under federal regulations and any non-residents or part-year residents having income from Utah sources.
FILING REQUIREMENTS: Individual income tax returns (TC-40) must be filed to report income received during the calendar year and the tax must be paid on or before April 15. |
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E-Mail brent@hallidaycpa.com |