Utah Updates Withholding Tax Guide, Effective June 1

Utah updated its withholding guide, decreasing the income tax rate to 4.5% from 4.55%, effective June 1.

Withholding schedules in the guide were also updated. The base allowance used in the formulas increased to $450 for single employees and $900 for married employees, up from $440 and $880.

The amounts subtracted from wages in the formulas increased to $9,107 for single employees and $18,213 for married employees, up from $8,826 and $17,652.

The bill reducing the state’s tax rate (HB 106) was signed March 26 by Gov. Spencer Cox (R). Also under the bill, employers with qualified child ...