This week, Republican lawmakers are hoping to hold a special session to pass a large tax reform package. It would impose new sales taxes while cutting the overall income tax rate, and cutting income tax means cutting more than half a billion dollars in education funding. But a plan for replacing that money isn’t in the bill.
A tax cut for Utahns is a key ingredient to lawmakers’ plan to rewrite the state tax code. But under tax reform plans currently being considered, about one in five Utahns — mostly those without children — would pay more in taxes.
Gov. Gary Herbert says a proposed rule to ban the practice of conversion therapy on LGBTQ youth may require some fine-tuning after it was met with opposition from the Church of Jesus Christ of Latter-day Saints earlier this month.
Taxes on services remain unpopular in Utah as a legislative task force looks to expand the state’s revenue base by adding sales taxes on new things. That includes a range of services, from home repairs and tutoring to streaming media like Netflix.
Utah lawmakers are proposing new sales taxes on a list of items and services. At the same time, they plan to cut the state income tax rate and significantly boost tax breaks for children and dependents.
As a state task force wraps up its study and input-gathering phase for reworking Utah’s tax code, House Speaker Brad Wilson, R-Kaysville, says he wants the work finished — with a tax cut in place — by the end of the year.
The first of eight town hall meetings focused on state tax reform in Utah begins Tuesday evening in Brigham City. The meetings are meant to allow the public to weigh in on the Legislature’s plan to revise Utah’s tax code.
Gov. Gary Herbert and top Republican leaders announced Thursday they will not pursue tax reform this session, an about-face coming just hours after the bill’s chief sponsor expressed confidence about its chances.
With little more than two weeks left in the legislative session, Republican lawmakers released a massive sales tax reform package late Wednesday that would expand state revenue sources while lowering the overall sales and income tax rate.