Also see: Recent Info and Tax Law Changes which details recent changes in tax laws, including federal laws that affect Utah taxes.
What’s New
- Payroll Protection Program (PPP) grant or loan addback: In certain situations you must add to your income the amount of PPP grants or loans forgiven in 2024.
- Nonprofit Capacity Fund: The 2023 Utah Legislature passed SB 223, creating the Nonprofit Capacity Fund Program and allowing income tax filers to contribute to it on their tax returns.
- Child Tax Credit: The 2023 Utah Legislature passed HB 170, creating a nonrefundable child tax credit for children ages 1-3.
- Utah tax rate: The 2024 Utah Legislature passed SB 69, lowering the income tax rate from 4.65 percent to 4.55 percent.