Utah HB0235 revises corporate and individual income tax rates, effective May 6, 2026.
Utah HB0235 amends the corporate franchise and individual income tax rates. It reduces the corporate tax rate from 4.5% to 4.45% and the individual income tax rate from 4.5% to 4.45%. The bill applies retroactively to taxable years beginning on or after January 1, 2026, and takes effect on May 6, 2026. The minimum tax for corporations remains at $100.
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