The Utah Taxpayers Association has released its 2023 How Utah Compares report, showing the taxes paid as a percentage of personal income in Utah and nationwide.
The report reveals that Utahns pay 2.4% more of their personal income in total taxes than the US average, and an average 3.38% more than neighboring states. While Truth in Taxation laws keep Utah competitive in terms of property tax, it is clear there is still work to be done in making Utah a more tax-friendly state for residents and businesses.
“While it is true that Utah has a strong economy and bright economic outlook, it is important to stay ahead of the competition if we are to continue to grow,” said Rusty Cannon, President of the Utah Taxpayers Association. “Without constant improvement to tax policy – including lowering taxes and fees – Utah risks falling behind other states. This report highlights the fact that many states surrounding Utah currently have a lower overall tax and fee burden on their citizens and businesses than in Utah. “
The report can be viewed in full here.
