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Utah Tax

Utah State Tax

Individual Income Tax Forms
Form TC-40 Individual Income Tax Return

Corporate Income Tax Forms
Form TC-20 Franchise or Income Tax Return
Form TC-20S S Corporation Return

Exemption Form

Sales Tax Forms
Form TC-73 Sales Tax Exemption Certificate

Property Tax Forms
Form PT-020 Application for Property Tax Exemption
Form PT-020A Application for Exemption - Real Property Schedule A
Form PT-020B Application for Exemption - Personal Property Schedule B
Form PT-020C Application for Exemption- Benefactors Schedule C
Form PT-021 Annual Statement for Continued Property Tax Exemption

Areas of Concern

Utah is a sparsely populated state with a tax burden slightly below the national average of 9.7%. Utah is considered a benficiary state. In Fiscal year 2005, the Utah citizens gave the federal government $5,311 per capita. In return, the State of Utah received $5,994 per capita from the federal government.

Status as a beneficiary state does not mean that the government budget is insolvent. Beneficiary status that the state is would not have all the services it provides without the aid of the federal government. Utah is one of seven states that uses a flat tax in their imposition of state income taxes. The state is dependent on sales taxes as their prime source of revenue.

Income Taxes

The Utah state tax on income for individuals and corporations is imposed at a flat rate of 5% of all taxable income. The flat tax was first implemented in fiscal year 2008. With the flat tax, the Utah state tax system abolished the bracketing system that characterizes the regressive and progressive systems of income taxation.
Utah state tax burdens are equally distributed as far as the income tax goes. Utah state tax on income, from individuals and corporations, pays entirely for the state's public school system.

Sales Taxes

The Utah sales tax rate currently stands at 4.7% for the state portion. Local governments can impose additional sales tax rates to fit the needs of the local governments. Therefore, sales taxes vary from county to county. Counties with the lowest Utah sales tax ranges between 5.9% and 6.5%.

Counties with greater needs, impose sales taxes up to 8.35%. The Utah sales tax rate on rental cars is 16%. Utah sales taxes on cigarettes is 65 cents per pack of twenty. Utah's gasoline tax rate is 24 cents per gallon.

Property Taxes

Utah state taxes on property are among the nation's lowest. Utah does not collect property taxes at the state level. Property taxes are levied at the local level of governance. Cities and counties are the only government entities capable of property taxation.

In fiscal year 2006, Utah's property taxes ranked 40th in the nation. Utah property owners spend an average of $738 worth of property taxes each year. Utah property taxes are less than most states because the state is home to fewer people than states with hotter real estate markets and higher populations. Utah's low property taxes accompany its pristine natural beauty.

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