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State of the State and Budget Proposal Includes Income Tax Rate Decrease

Latest Posts:
Unemployment Tax Rate Information
Unemployment Tax Rate Notices Coming Soon
New Withholding Tables Released, Effective June 1
David Bybee, CAA
January 24, 2023 3:47 PM

On January 19, 2023, Utah Governor Spencer J. Cox gave the State of the State speech and proposed $1 billion in tax relief for Utah families. In the Fiscal Year 2024 Budget Recommendations, almost $300 million in new ongoing income tax cuts are proposed, including a reduction of the income tax rate from 4.85% to 4.75%, which would offer $190 million in tax relief.

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