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Provo Utah online 2024 IRS 1099-MISC: What You Should Know
Utah State Tax Commission is not the federal entity that levies federal income tax in Utah. Utah Tax Commission Website 2017 Tax Changes The Department of Revenue and County Attorneys Office jointly announced the new income tax code, effective for the 2024 calendar year (July 1, 2017). The newly developed code reduces the number of marginal tax rates to 4 rates of 10%, 19%, 31% and 37%. It also eliminates all the rate brackets and replaces them with 4 rates of 10%, 19%, 31% and 37%. The Code also applies the standard deduction and personal exemption to taxable income up to 15,000 for individuals, 30,000 for married couples filing jointly, and no personal exemption for single individuals, married couples filing jointly and single individuals. The code also extends all the personal exemptions to 2024 and replaces them with the Family Tax Credit. 2017 Budget and Tax Law The Utah Department of Revenue issued budget proposals for 2 showing projected revenues. The proposed revenue was 38.2 billion less than the previous year. The budget includes an amendment to the Tax Code which creates additional income tax rates of 4, 10, 20, and 40% for individuals, respectively. 2017 Tax History This is a page devoted to the history of the Income Tax and the Income Tax Code. Utah Legislature's 2024 – 2024 Budget This is a page dedicated to the proposed budget 2024 – 2024 by the Utah Legislature. Utah Tax Rate Table The Utah State Tax Commission provides this table of general income tax rates on Utah Taxpayers as provided by the Utah Income Tax Code. The current Utah income tax rates are set as follows: All Individual Tax Rate (8% and 25%) 8% 1.0% 10% 1.5% 19% 2.00% 25% 3.00% Married Separate Tax Rate (5% and 15%) 5% 1.05% 15% 1.25% 37% 2.04% The Utah State Tax Commission also provides this table showing additional information including a calculation of tax liability and the Utah personal exemption (which is not included in this table). Utah Tax Rate Table (8%) (8%) 10%) (3%) (1%) The Utah Governor's 2024 – 2024 Budget includes legislation to: Increase the standard deduction, personal exemption, and exclusion amount, and reduce the business corporate deduction that are each tax increases to the amount of personal exemption or standard deduction.
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