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Utah 2024 Income Tax Rate Bill Passes
July 29, 2024
At A Glance
- Senate Bill 69 reduces the Utah state income tax rate retroactive to the beginning of 2024.
- Base allowances and the amount subtracted from wages on Line 4 have increased for both single and married filing statuses.
Summary
On March 14, 2024, Utah Governor Spencer Cox signed Senate Bill 69, which reduces the individual state income tax rate from 4.65% to 4.55% retroactive to January 1, 2024. This bill also increases line 3 (base allowance) and line 4 (amount subtracted from wages) values for both single and married filing statuses.
Filing Status | Line 3 Base Allowances | Line 4 Wage Subtractions |
Single | $415 > $440 | $8,371 > $8,826 |
Married | $830 > $880 | $16,742 > $17,652 |
Next Steps
Paylocity will update the 2024 Utah withholding rate to 4.55% per this legislation. This rate reduction will not require any adjustments to withholding amounts in payroll, as the state will refund individuals any excess tax collected as part of their personal income tax filing for the 2024 tax year.
Thank you for choosing Paylocity as your Payroll Tax and HCM partner. This information is provided as a courtesy, may change, and is not intended as legal or tax guidance. Employers with questions or concerns outside the scope of a Payroll Service Provider are encouraged to seek the advice of a qualified CPA, Tax Attorney, or Advisor.
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