Utah Personal Income Tax Rate Poised to Drop Again, to 4.55%

Legislation to cut Utah’s personal income tax rate is headed to the desk of Republican Gov. Spencer Cox after winning final approval in the legislature Wednesday.

The Utah House voted 63-11 to support SB 69, which would drop the state’s flat 4.65% rate to 4.55%, retroactive to Jan. 1. A fiscal analysis pegged the cost of the reduction at $167 million annually beginning in fiscal year 2025. The measure won support in the Senate on Jan. 31 by a vote of 23-6.

• The bill comes a year after the legislature passed HB 54, which lowered the individual income tax ...