INDIVIDUAL INCOME TAX CHANGES

Many people are wondering how the recent changes to Utah’s tax system will affect them. Below are links to several sources of information on the changes to Utah’s individual income tax system.

A synopsis of the income tax changes, including sample calculations for the new “single-rate” tax system beginning in tax year 2008, written by the Office of Legislative Research and General Counsel (OLRGC).

A tax calculator, including calculations for the new “single-rate” tax system beginning in tax year 2008, by the Governor’s Office of Planning and Budget (GOPB).

A briefing paper summarizing the bill enacting the dual system for tax year 2007, written by OLRGC.

A briefing paper summarizing major enacted tax changes, including the new “single-rate” system beginning in tax year 2008 and sales tax changes, written by OLRGC.

A GOPB report on tax reform analysis methodology.

An analysis of Utah taxes, including the new “single rate” individual income tax system, by the University of Utah’s Center for Public Policy and Administration.

A Tax Commission tax calculator for tax years 1997-2007.

A comparison of the computation of the traditional individual income tax system, the single rate individual income tax system that will replace the traditional individual income tax system beginning with taxable year 2008, the income tax on estates and trusts, and the income tax on estates and trusts as amended during the 2008 General Session.