Bill > HB0235

This bill amends Utah's income tax laws to adjust the tax rates for both corporations and resident individuals, lowering the corporate tax rate from 4.5% to 4.45% on Utah taxable income, which is the income a corporation earns within Utah, and also reducing the individual income tax rate to 4.45% on state taxable income, which is the income a resident individual earns that is subject to state tax. The bill also clarifies that the minimum tax for corporations remains $100 and specifies that these changes will take effect on May 6, 2026, with retrospective operation for taxable years beginning on or after January 1, 2026.

Budget and Finance

https://le.utah.gov/~2026/bills/static/HB0235.html