A plan to overhaul the Utah’s tax code would deliver a $75 million tax cut benefitting all wage brackets — although households above the median income would see the biggest windfall.
The sales tax on groceries would go up under the proposal made public Friday by legislative leaders, and the state would tack on the sales tax to motor fuel purchases. These and other revenue-generating changes would be offset by income tax credits and an overall rate cut from 4.95% to 4.7% or lower.
A family of four making $60,000 annually would pay about $400 less in taxes each year when all is said and done, according to a state fiscal analysis.