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Flat Income Tax Rate: 3% on interest and dividends only. ... Utah. Flat Income Tax Rate: 4.65%. Standard Deduction (Single): $876 credit. Standard Deduction (Couple): $1,752 credit.
Median household income and taxes State Tax Burdens 2022 % of income. State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income, excise taxes, and user fees. Some are levied directly from residents and others are levied indirectly.
Utah collects personal income tax at a single rate of 5%, but provides tax credits to low and middle income taxpayers to provide a progressive tax system. The state sales tax has a base rate of 4.65 percent, [4] with cities and counties levying additional local sales taxes that vary among the municipalities.
Utah. Utah has a flat state income tax of 4.55%, which applies to all retirement income, ... That means that state income tax rates were reduced across 2024 brackets to a range of 2.37% to 5.12%.
A third of the current state individual income taxes, ... State individual income tax rates & brackets (2021) [88] ... Gross Receipts Tax Utah: 4.95% > $0 Vermont:
Colorado reduced its income tax rate to 4.25% in May 2024, down from 4.4% in 2023. But if you turn 55 during the tax year, you can write off up to $20,000 in Social Security benefits.
This is a table of the total federal tax revenue by state, federal district, and territory collected by the U.S. Internal Revenue Service. Gross Collections indicates the total federal tax revenue collected by the IRS from each U.S. state , the District of Columbia , and Puerto Rico .
In 2024, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%. While these rates stay the same for 2025, the income thresholds for each bracket will adjust for inflation.