Utah Lawmakers Proposing Income Tax Cut Using $1.3B Surplus

Utah Lawmakers Proposing Income Tax Cut Using $1.3B Surplus

(Salt Lake City, UT) — State lawmakers are looking to cut Utah’s income tax rate again. The state’s Interim Revenue and Taxation Committee passed a bill yesterday that would cut the rate to four-point-eight-percent. The measure comes as lawmakers discuss what to do with a one-point-three-billion-dollar surplus in state revenue. The amount of the tax cut could go even lower when the bill is considered during the upcoming legislative session.