Utah families have a new resource to compare their state income tax liability for 2017 to their expected taxes for 2018.
The online calculator is available on the Utah Foundation website (www.utahfoundation.org/2018/04/utah-state-income-tax-calculator/).
The calculator is based on the findings of Utah Foundation’s most recent report, The Education Tax: Income Taxation in Utah.
Users can enter their tax filing status, the amount of their 2017 itemized deductions (or the standard deduction), the number of personal exemptions they claim and their adjusted gross income. The results include a side-by-side comparison of this year’s and next year’s federal and state taxes, and most importantly, the difference in how much they’ll be paying next year.
Research Analyst Christopher Collard created the calculator to give Utahns additional information about their changing income tax liability. “Changes at both the state and federal level mean changes in how much state income taxes Utahns will pay,” Collard says. “Despite a trim in the overall state income tax rate, you could end up paying more.”