Considering a Cut to Utah’s Income Tax
Written by: Christopher Collard
State lawmakers are currently considering a small personal and corporate income tax cut for Utahns that would reportedly reduce the state income tax from 5% to 4.95%. Lawmakers are considering these tax cuts in light of large revenue growth from the income tax on top of a one-time windfall as a result of the recent federal income tax overhaul. This brief addresses the impact of the personal income tax cut on households. Based on data … Continued