By Payroll and Entitlements Editorial Staff
Utah has repealed previously enacted legislation (Ch. 1 (S.B. 2001), Laws 2019, Second Special Session) that cut the corporate and individual income tax rates beginning in tax year 2020 (see Payroll Management Report Letter 1557, dated December 31, 2019). Other tax changes eliminated as a result of the repeal include:
- an increased personal exemption for purposes of the taxpayer tax credit;
- Social Security tax, and earned income tax credits; and
- a new tax credit rebate. (H.B. 185, Laws 2020, effective January 29, 2020.)
Interested in submitting an article?
Submit your information to us today!Learn More