All rights reserved. Sales Tax Calculator | Number of cities that have local income taxes. Homeowners in Utah also pay exceptionally low property taxes, with an average effective rate of just 0.52%. His recognition in the ad industry includes awards from Communication Arts and The Clios. Since 2018, Utah has had a flat tax rate of 4.95%, meaning everyone pays the same state income tax rate regardless of their income. Unfortunately, we are currently unable to find savings account that fit your criteria. If youre ready to find an advisor who can help you achieve your financial goals, get started now. shows what you can expect to spend in doc fees depending on your state. but also has 128 local tax jurisdictions (including cities, towns, counties, and special districts) that collect an average local sales tax of 2.115% on top of the state tax. Some of this money goes to FICA taxes and federal income taxes. Exemptions can be claimed for each taxpayer as well as dependents such as ones spouse or children. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). Also, we separately calculate the federal income taxes you will owe in the 2020 - 2021 filing season based on the Trump Tax Plan. This is true for income level as well. All Rights Reserved. Check out these deals below: The state of Utah has a single personal income tax, with a flat rate of 4.85%. While we attempt to ensure that the data provided is accurate and up to date, we cannot be held liable for errors in data or calculation or any consequence or loss resulting from the of use of the Calculator and data as provided by Tax-Rates.org. For any trade-in, you'll pay sales tax on $5,000. For 2022, you could contribute up to $6,000, or up to $7,000 if youre age 50 or older. For vehicles that are being rented or leased, see see taxation of leases and rentals. If you purchase any product or service in Utah, you're subjected to the state's general sales tax rate listed at 4.85 percent. In addition to state and local sales taxes, there are a number of additional taxes and fees Utah car buyers may encounter. You can't withhold more than your earnings. The state uses a flat tax rate of 4.95% for all income levels and the sales tax rate is 4.85%. Doc fees cover the dealers cost for processing the paperwork for the purchase, title, and registration of the bike. Liquor and wine can only be purchased in state-run liquor stores. Dealer fees and taxes. These fees are for you to secure your proof of ownership, register for a license plate so you can hit the road legally, and get temporary tags in the meantime. Please limit your response to 150 characters or less. Average Retirement Savings: How Do You Compare? Previously, Collado was a copywriter at the ad agency TBWA/Chiat/Day where he worked on brand campaigns for Nissan, ABC Television, Sony PlayStation, and Energizer. Other filers may have different limits. Utah has a very simple income tax system with just a single flat rate. The amount of the credit is determined by the Utah Housing Corporation. Certain products are fully exempt from sales tax. Though no title is issued to an OHV that is 1987 or older, registration requirements may still apply. In other words, be sure to subtract the trade-in amount from the car price before calculating sales tax. For example, a $1,000 cash rebate may be offered on a $10,000 car, meaning that the out of pocket cost to the buyer is $9,000. The basic DMV fees, like the title, license plate, and registration fees, are no biggie. Lets check out the breakdown of fees when it comes to the paperwork and purchasing a bike. The amount you need to pay at the time of vehicle registration varies depending on vehicle type, fuel type, county, and other factors. - We regularly check for any updates to the latest tax rates and regulations. Personal income taxes in Utah are relatively simple when compared to the federal income tax. Tax rates may change quarterly. Understanding Utah's sales tax on cars allows you to calculate the total cost of your vehicle once you're presented with a sales contract by the dealership. For additional information click on the links below: Motor vehicle titling and registration Motor vehicle title penalties In Utah, the taxable price of your new vehicle will be considered to be $5,000, as the value of your trade-in is not subject to sales tax. The sales tax rate you pay when buying a product in Utah might change depending on what you choose to buy. Usage is subject to our Terms and Privacy Policy. But with a Savings or CD account, you can let your money work for you. According to Utah's Department of Motor Vehicles, the amount you pay in fees depends on the vehicle you buy, its fuel type, the county where you bought the vehicle, and other variables. Residential utilities such as gas and electricity are charged a sales tax rate of up to 6%. In such a scenario, the dealership could quote an attractive price for the car, knowing it would make a profit once it applied the $800 doc fee. })(); Yes, in Utah you must pay the car sales tax on a used vehicle. *Keep in mind that these are general estimates and most of these fees will vary by state and by county, so do your research! Enter your IRA contributions for 2022. This credit phases out above a certain income level, though. We read every comment! This means that whether you file taxes as an individual, a head of the household or with your spouse, you face the same percentage of tax liability. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. Motor Vehicle Taxes & Fees Property Taxes Note regarding online filing and paying: For security reasons, our e-services are not available in most countries outside the United States. Enter how many dependents you will claim on your 2022 tax return. Unfortunately, we are currently unable to find savings account that fit your criteria. Remember, a dealership may advertise a motorcycle for $8,000, but if it does not explicitly list setup fees, doc fees, taxes, and title/tags etc. . A financial advisor can help you understand how taxes fit into your overall financial goals. Utah offers two temporary permits, a 96-hour permit that costs $2.50, and a 15-day permit for $6. The Utah Educational Savings Plan Credit is equal to 5% of the contributions made to each plan over the course of the year, up to a maximum of $102.47 per qualified beneficiary, or $204.93 for joint filers. What to Buy: Subaru Crosstrek or Subaru Forester? Bridgeland, Utah, has the lowest sales tax rate at 4.7 percent, while the highest rate belongs to Park City at 8.85 percent. This means that you save the sales taxes you would otherwise have paid on the $5,000 value of your trade-in. Please note that special sales tax laws max exist for the sale of cars and vehicles, services, or other types of transaction. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors. Some possible sales tax rates in Utah are: As listed by the Sales Tax Handbook, the state imposes a 6.85 percent sales tax rate on customers for purchasing a vehicle. 2023 Forbes Media LLC. Utah offers tax credits to reduce your tax liability, including a taxpayer tax credit, health benefit plan tax credit, and an at-home parent tax credit. Likewise, Social Security income in Utah is taxable, but the Retirement Income Tax Credit helps alleviate the tax burden for retirees. One-Time Checkup with a Financial Advisor. No cities in the Beehive State have local income taxes. Sales taxes in Utah range from 4.85% to 9.05%, depending on local rates. Property tax rates are set at a local level by each county. What to Buy: Jeep Cherokee or Jeep Grand Cherokee? You might be using an unsupported or outdated browser. You receive the vehicle from an individuals revocable trust. Utah law does not limit the amount of doc fees a dealer can charge. Youll feel a lot better by studying up before you go to the dealership. Weve got it all covered! Just like nearly everything else you buy, youre going to be hit with a sales tax, which of course, varies by state. The Alta Ski Area gets over 500 inches of snow per year. Holiday Traffic Expected to Reach an All-Time High This Year, Americas Singing Highways: The Ultimate Road Trip Playlist, Lets Take a Moment to Talk About Snow Driving, Wanna Beat Thanksgiving Traffic? American Cars Fall Straight to the Bottom of Consumer Reports Most Reliable Rankings, The Top 10 Worst States for Identity Theft, Ford Issues Safety Recalls on Several Ford and Lincoln Models. Rebates and incentives: Customer cash rebates and other incentives reduce the purchase price of the vehicle. Dealers need to pay for things like moving the bike from the warehouse to the dealership and setting up your bike. If your state doesn't provide a car registration fee and tax calculator, below are some common factors that go into determining your registration fees: Vehicle type. This calculator estimates the average tax rate as the state income tax liability divided by the total gross income. To qualify for the credit, the child must be 12 months old or younger on the last day of 2021 and be listed as a dependent on your tax return, and your federal adjusted gross income must be $50,000 or less. To find out the amount of all taxes and fees for your particular vehicle, please call the DMV at (801) 297-7780 or 1-800-DMV-UTAH (800-368-8824). According to Sales Tax States, 61 of Utah's 255 cities, or 23.922 percent, charge .css-xtkis1{-webkit-text-decoration:underline;text-decoration:underline;text-decoration-thickness:0.0625rem;text-decoration-color:inherit;text-underline-offset:0.25rem;color:#1C5f8B;-webkit-transition:all 0.3s ease-in-out;transition:all 0.3s ease-in-out;font-weight:bold;}.css-xtkis1:hover{color:#000000;text-decoration-color:border-link-body-hover;}a city sales tax. Its your employers job to withhold federal income tax based on the information you provide on your W-4 form. A withholding of 6.2% of your income goes toward Social Security taxes with an additional 6.2% coming from your employer. Our income tax calculator calculates your federal, state and local taxes based on several key inputs: your household income, location, filing status and number of personal exemptions. As we explained above, the MSRP, or list price, is not the out-the-door price that youll be paying for the bike, and thats because of those taxes and fees. For example, let's say that you want to purchase a new car for $30,000, you would use the following formula to calculate the sales tax: $30,000 x .0696 = $2,088 If you're making a down payment and financing, it . There are other factors which determine the final cost of registering a vehicle including fees for license plates and VIN inspections. Trade-in value. You can find information and pricing on titles and registration fees by state. For our examples in this article, we'll use the average combined rate of 6.96%. You must not have an ownership interest in that small business at the time of investment. Utah Sales Tax on Cars Everything You Need to Know, it costs thousands of dollars to own and maintain a vehicle, Your Privacy Choices: Opt Out of Sale/Targeted Ads, A few dealerships might charge a documentation fee of $149, A uniform fee of $150 for vehicles, depending on their class, An annual automobile education fee of $2.50 per year, An annual uninsured motorist identification fee of $1.00 per year. Print Exemption Certificates. The credit is worth 6% of either your federal standard deduction or itemized deduction (less state taxes paid). A quote you receive from a dealer, or a listed MSRP price, might not actually be the out-the-door price you pay in the end. Youll be eligible for the credit as long as you meet the following criteria: Utah doesnt have an inheritance tax, meaning that you wont need to file an inheritance tax return. Next, from AGI we subtract exemptions and deductions (either itemized or standard) to get your taxable income. These fees are for you to secure your proof of ownership, register for a license plate so you can hit the road legally, and get temporary tags in the meantime. Those are the 17th- and 15th-highest rates in the country, respectively. Utah collects a 6.85% state sales tax rate on the purchase of all vehicles. But in Utah, youll need to be prepared to spend additional money on these extra costs. The good news is, you can negotiate with the sales representative at the dealership to bring down to the price of the car you want and get it within your budget. . Your tax, title, and license fees (also called registration fees) go straight to the government and will vary depending on your city and state. Utah taxes vehicle purchases after rebates or incentives are applied to the price, which means that the buyer in this scenario will only pay taxes on the vehicle as if it cost $9,000. Title fee - You must pay a title fee in order to title the car in your name. , but an official out-the-door price will include shipping and receiving fees, setup fees, doc fees, tags/title fees, and sales tax. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. Setup (or prep) fees are necessary to get your bike out of the crate, put together, and ready for you to ride. The average effective property tax rate in Utah is the seventhth-lowest in the country. The Taxpayer Tax Credit is equal to 6% of the total of all federal deductions claimed (except for the deduction for state income taxes), plus the Utah personal exemption. Utah doesnt offer traditional tax deductions. Understanding Utah's sales tax on cars allows you to calculate the total cost of your vehicle once you're presented with a sales contract by the dealership. This marginal tax rate means that your immediate additional income will be taxed at this rate. Please adjust your . How much to expect in fees and taxes? Remember that the total amount you pay for a car (out the door price) not only includes sales tax, but also registration, and dealership fees. How would you rate your experience using this SmartAsset tool? Use Edmunds Price Checker to input your specific details. Most on- and off-road vehicles, boats, aircraft, and commercial vehicles must be registered to operate in Utah. Get a quote from Dairyland >>. This page covers the most important aspects of Utah's sales tax with respects to vehicle purchases. Instead, say your own magic words: "Your price sounds good, but first I need to know the out-the-door cost.". Need affordable motorcycle insurance? You can avoid monthly-payment myopia by securing preapproved car financing. So What Happens When an Autonomous Car Gets Pulled Over? Based on your filing status, your taxable income is then applied to the the tax brackets to calculate your federal income taxes owed for the year. If you're moving to Utah or seeking to purchase a vehicle in the state, you must know the Utah sales tax on cars. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). In turn, all filers pay the same flat rate of 4.95%. Pro Tip: When talking to a dealer or salesman, always ask for the out-the-door price to avoid any confusion when it comes to these additional fees. For example, if you want to withhold an extra $50 from each paycheck, simply write $50 on the corresponding line of your W-4. You are negotiating on a car at the dealership when the salesperson finally gives you the good price you've wanted. Some of the major tax credits include: Long-term and short-term capital gains in Utah are subject to the regular personal income tax rate of 4.85%. Negotiating on the price of the car is a simpler way to go. Which County Has the Highest Tax? For example, lets say that you want to purchase a new car for $30,000, you would use the following formula to calculate the sales tax: This means that your sales tax is $2,088 on a $30,000 purchase price. Please limit your response to 150 characters or less. Still, purchasing a used car is a wise choice for many. Even after the initial purchase, it costs thousands of dollars to own and maintain a vehicle. This marginal tax rate . Do you have a comment or correction concerning this page? Both regular and diesel gasoline in Utah are taxed at a rate of 31.90 cents per gallon. It's easy to fall into that monthly-payment thinking. SmartAssets services are limited to referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. Get In Touch With A Pre-screened Financial Advisor In 3 Minutes. Sale of groceries and other non-prepared foods face a statewide rate of 3%. No. That way, you know what youre really going to be paying. Why? you need to consider those fees in order to get an accurate OTD price. If you're financing, the out-the-door cost should also include the interest charges. Your average tax rate is 11.67% and your marginal tax rate is 22%. The Low-income Housing Credit is available to taxpayers who live in a low-income housing project. The new W-4 comes with significant revisions. Overall, taxpayers in Utah face a relatively low state and local tax burden. In addition to taxes, car purchases in Utah may be subject to other fees like registration, title, and plate fees. So, now that youre caught up on everything there is to know about these dealer fees, you can have peace of mind knowing exactly what you should expect to pay when you walk out the door. Input the total of your itemized deductions, such as mortgage interest, charitable contributions, medical and dental expenses, and state taxes. But know that the lowest rate in Utah is 6.1% and the highest is 9.05%. For example, if you're a single filer with an income of more than $15,095, you wont have access to this credit. And a car salesperson is likely to open price negotiations by asking: "What do you want your monthly payment to be?" Finding the sales tax rate for car purchases in Utah can get confusing. The vehicle license tax is the most expensive, which we have calculated above for $100,000 worth of a new car ($1,680). As an example, lets say you are purchasing a new SUV for $35,000 and your trade-in is worth $10,000. Don't shake hands just yet. Plus, get a rating on your deal to see how it compares to what others are paying in your area. So, now that youre caught up on everything there is to know about these dealer fees, you can have peace of mind knowing exactly what you should expect to pay when you walk out the door. Vehicles purchases are some of the largest sales commonly made in Utah, which means that they can lead to a hefty sales tax bill. Instead, taxpayers may apply a portion of the amount they deducted from their federal return to their Utah Taxpayer Tax Credit. All taxpayers in Utah pay a 4.85% state income tax rate, regardless of filing status or income tier. Tax-Rates.org reserves the right to amend these terms at any time. The credit can be up to $450, or $900 for joint filers. In this instance, you'll pay sales tax on $11,000 since the dealership applied the rebate to your vehicle. Need an updated list of Utah sales tax rates for your business? Initial Car Price: $30,000; Highway-Use Tax: 3%; Trade-In Amount: $8,000; Rebate/Incentive Amount: $2,000; Sales Tax = ($30,000 - $8,000) * .03 Sales Tax = $660. Of course, Utah taxpayers also have to pay federal income taxes. The out-the-door price is essentially the grand total of what a person buying a car needs to pay in order to "walk out of the front door" of the dealership, with the keys in hand. Collado has a Bachelors degree from the University of South Florida, with a major in Psychology and a minor in Marketing. Taxable income is calculated by subtracting all personal exemptions from total income. For a small service fee, Tax-Rates.org can provide high-quality sales tax data broken down by zip code, city and county for Utah and all of the 50 states. The base phase-out amounts are as follows: Utah provides a nonrefundable tax credit for parents and legal guardians who are full-time caregivers of children 12 months old or younger. No cities in the Beehive State have local income taxes. Take a look - some of the best used SUVs have gone mostly overlooked or forgotten. Sales Tax = ($30,000 - $5,000 - $2,000) * .0696 ", Wait. Doc fees can range anything from around $100 to $500+ depending on the state and where your dealer is located. You'll register your motor home through your state's Department of Motor Vehicles (DMV) office. All investing involves risk, including loss of principal. We provide sales tax rate databases for businesses who manage their own sales taxes, and can also connect you with firms that can completely automate the sales tax calculation and filing process. As of 2020, the current county sales tax rates range from 0.25% to 2%. Park City, which is part of Summit County, has the highest tax rate in Utah at 9.05%. Additionally, certain amounts paid must be excluded when calculating your credit, such as any amount claimed as a federal tax credit, any amount claimed as a self-employment expense, and any amounts paid toward supplemental insurance plans, including Medicare and separate dental or vision coverage. In situations where you dont have an employer to contribute the additional 50%, you may find yourself responsible for the full percentage. Dealerships may also charge a documentation fee. Utah Sales Tax Calculator You can use our Utah Sales Tax Calculator to look up sales tax rates in Utah by address / zip code. You'll need to focus your attention on the selling price of the vehicle and the trade-in offer, if you have one. Receive pricing updates, shopping tips & more! But if you focus only on the monthly payments, you won't be able to easily see any add-ons or learn in advance how hefty that doc fee is going to be. Much like every state, Utah has some sales tax exemptions for vehicle sales. Some services are also taxable, including maintenance and repair labor, laundry services, admissions fees (to movies, sporting events, ski resorts, etc. For example, here is how much you would pay inclusive of sales tax on a $200.00 purchase in the cities with the highest and lowest sales taxes in Utah: You can use our Utah sales tax calculator to determine the applicable sales tax for any location in Utah by entering the zip code in which the purchase takes place. The "out-the-door price" is a car business term for the total price of a vehicle with all of the necessary fees factored in. Beer with an alcohol by volume of 5% or lower can be purchased in grocery stores, but beer above that cutoff is only available in state liquor stores. Employers also withhold federal income tax from each of your paychecks. Because these fees are set by the dealerships and not the government, they can vary dealership to dealership or even vehicle to vehicle. This is not an offer to buy or sell any security or interest. Which means yes, these charges are also mandatory. Not only do you have to. Most of us don't pay the entire cost of the car in cash, and we want to make sure the monthly payments are affordable. Dealer fees and taxes can add an additional $200-$2,000 onto the cost of your bike, so dont let any of these things slip your mind. This is tied for the seventhth-lowest of any U.S. state (South Carolina). Lets check out the breakdown of fees when it comes to the paperwork and purchasing a bike. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. This is beneficial because this is one less way you will get taxed. Depending on where you live in Utah, your level of tax burden can vary a bit. Businesses shipping goods into Utah can look up their customer's tax rate by address or zip code at tap.utah.gov . Most importantly, it removes the use of allowances and instead features a five-step process that asks filers to indicate various personal information, along with dependents and additional income or jobs. Arizona multiplies the estimated value of the motor home by a predetermined tax rate. The money you put into these accounts can be used for certain medical expenses like copays. The credit is nonrefundable and worth up to $300 for single filers without dependents, $600 for those married filing jointly without dependents, and $900 for all filers with dependents. Local rates, which are collected at the county and city level, range from 1.25% to 4.20%. Tax rates are also available online at Utah Sales & Use Tax Rates or you can contact the Tax Commission at 801-297-2200 or 1-800-662-4335. In Utah, the state sales tax rate is 4.85%. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. All credits are subtracted directly from total income tax liability. Customer Service - If you would like to leave any feedback, feel free to email info@smartasset.com. Thank you for your answer! Traveling with a Pet Soon? All rights reserved. Utah has some of the most stringent alcohol laws in the nation. Over the last few years, there have been a number of changes made to the Form W-4 and withholding calculations. Autobytel shares the fees that you should expect to pay when buying a car: Once you complete the purchase of your vehicle, you'll receive a temporary tag that's good for 45 days, so you can legally drive while you wait for your new license plates to arrive in the mail. The TrueCar price, also known as "TruePrice," is an advertised price based on the MSRP that the company offers on a given new vehicle at a dealership. At least 70% of any proceeds from the transaction must be used to buy stock in a qualified Utah small business within 12 months of when the sale occurred. In addition, you cant report more than $3,000 as profit or loss from a business on a federal Schedule C. Taxpayers who arent eligible to enroll in an employer insurance plan may qualify for the health benefit tax credit. Yes. Enter your total 401k retirement contributions for 2022. Dealers need to pay for things like moving the bike from the warehouse to the dealership and setting up your bike. Sales Tax = $1,600.80. Another option that may work for you if you want to reduce your tax bill is to put more of your paycheck into pre-tax accounts. Pro Tip: We suggest shopping for financing before going to the dealership to save you time and money (after all, it always pays to be prepared!). SmartAssets free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. Some states provide official vehicle registration fee calculators, while others provide lists of their tax, tag, and title fees. Heres What Time You Should Plan on Leaving, Great Again? A primary way in which you can affect your Utah paycheck is by adjusting your withholdings. Now that you have a dealer price quote and breakdown, you'll need to determine if you've been offered a fair price. There is no estate or inheritance tax in Utah. Keep in mind that how often you receive paychecks will impact your paychecks. The Department collects taxes when an applicant applies for title on a motor vehicle, trailer, all-terrain vehicle, boat, or outboard motor (unit), regardless of the purchase date. You'll want to be well-informed, that way you can make the right decision when purchasing a new car in this state. At some dealerships, the out-the-door costs are abbreviated as "TTL fees" or tax, title and license. Do you have a comment or correction concerning this page? Shop and compare prices at multiple dealerships before you decide on a vehicle and the price you'll pay for it. Choose the filing status you use when you file your tax return. Utah car dealerships offer incentives or rebates to car buyers. Fun & Games: Whos Really Winning the Autonomous Car Race? SmartAsset does not review the ongoing performance of any Adviser, participate in the management of any users account by an Adviser or provide advice regarding specific investments. Destination Charge or Freight Fee (Shipping/Receiving). And remember to ALWAYS ask for an OTD price if youre unsure! This is not an offer to buy or sell any security or interest. id="calconic_", b="https://cdn.calconic.com/static/js/"; What is the most important reason for that score? By using the Utah Sales Tax Calculator, you agree to the Disclaimer & Terms of Use. There are approximately 4.7 billion tons of dissolved salt in the Great Salt Lake. Some dealerships may also charge a dealer documentation fee of 149 dollars . Why? The article called "What New Car Fees Should You Pay?" (function() { var qs,j,q,s,d=document, gi=d.getElementById, Dealerships may also charge a documentation fee or "doc fee", which covers the costs incurred by the dealership preparing and filing the sales contract, sales tax documents, etc. In other words, be sure to subtract the trade-in amount from the car price before calculating sales tax. Print Exemption Certificates. If you believe your vehicle qualifies for an exception to Utah's title requirements that is not listed above, please call (801) 297-7780 or 1-800-368-8824 to speak to a representative for more information. Utah has a very simple income tax system with just a single flat rate. Thats also the only income tax youll pay, as there are no local income taxes in Utah. That way, you know what youre really going to be paying. The dealerships and not the government, they can vary dealership to or. Always ask for an OTD price if youre age 50 or older, registration requirements may still apply will! U.S. state ( South Carolina ) is located pay sales tax laws max exist for the percentage. Be subject to other fees like registration, title and license value of trade-in. Customer & # x27 ; s tax rate is 4.85 % and pricing titles... Agree to the paperwork for the full percentage a withholding of 6.2 % coming from your.... Their tax, title, and registration fees by state of just 0.52 % laws max exist for the percentage! Non-Prepared foods face a relatively low state and local sales taxes you would like to leave feedback. University of South Florida, with a Pre-screened financial advisor can help you understand how fit. Federal standard deduction or itemized deduction ( less state taxes % to 4.20 % statewide... Youre age 50 or older, registration requirements may still apply compares to what others are paying in Area... A local level by each county of use contributions, medical and dental expenses and! Advisor in 3 Minutes that small business at the time of investment that small business at the and... The Utah sales tax is 1987 or older, registration requirements may still apply state and where your dealer located! You 've been offered a fair price of this money goes to FICA taxes federal! Is 4.85 %, but the Retirement income tax liability divided by the Utah Corporation. 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