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Utah: New Law Lowers Corporate and Personal Income Tax Rates from 4.65% to 4.55%
S.B. 69, signed by gov. 3/14/24. Effective on May 1, 2024, and applicable retroactively for taxable years beginning on or after January 1, 2024, new law lowers Utah corporate and individual income tax rates from 4.65% to 4.55%. These newly enacted Utah income tax rate reductions follow income tax rate reductions that were enacted in 2023 [see H.B. 54 (2023), and State Tax Matters, Issue 2023-12, for details on the 2023 legislation]. Please contact us with any questions.
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