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Controlling Your Taxes Your State Tax Obligations Utah Taxes on Business Income in Utah
Controlling Your Taxes Your State Tax Obligations Utah Taxes on Business Income in Utah
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PrintTaxes on Business Income in Utah
As in every other state, the state of Utah has various types of taxes. All of these types of tax are full of exceptions and extremely specific requirements. Below we have gone through the major types of tax that affect small businesses. Our intent is to give you a general understanding of when the various taxes will apply to you and what they will mean to your business.
- Franchise tax is required from most corporations doing business in Utah.
- Income tax on business income computed based upon corporate taxable net income is required in Utah.
- Personal income tax, based on a person's income, is imposed at a rate of five percent of taxable income in Utah.
