The state uses a flat tax rate of 4.95% for all income levels and the sales tax rate is 4.85%. Also, we separately calculate the federal income taxes you will owe in the 2020 - 2021 filing season based on the Trump Tax Plan. No. As a buyer, it's better to learn about such fees at this point, before the deal is final, than when you are in the finance and insurance office about to sign the contract. Your feedback is very important to us. 2023 SalesTaxHandbook. Local rates, which are collected at the county and city level, range from 1.25% to 4.20%. Thats because every pay period your Utah employer will deduct money from your wages for a variety of reasons. The Low-income Housing Credit is available to taxpayers who live in a low-income housing project. SmartAsset does not review the ongoing performance of any Adviser, participate in the management of any users account by an Adviser or provide advice regarding specific investments. And a car salesperson is likely to open price negotiations by asking: "What do you want your monthly payment to be?" Each DMV governs differently, using one, some, or all of the following criteria for determining registration fees for motor homes: Age of mobile home. What is Find the Best Car Price and Why is it Free? Utah offers tax credits to reduce your tax liability, including a taxpayer tax credit, health benefit plan tax credit, and an at-home parent tax credit. Not always. In addition to taxes, car purchases in Utah may be subject to other fees like registration, title, and plate fees. Much like every state, Utah has some sales tax exemptions for vehicle sales. if(!gi.call(d,id)) { j=ce.call(d,"script"); j.id=id; j.type="text/javascript"; j.async=true; Term Length Summary Vehicle Price $25,000 Down Payment - $2,000 Est. Utah Income Tax Calculator 2022-2023. Liquor and wine can only be purchased in state-run liquor stores. Those are the 17th- and 15th-highest rates in the . There are other factors which determine the final cost of registering a vehicle including fees for license plates and VIN inspections. Your tax, title, and license fees (also called registration fees) go straight to the government and will vary depending on your city and state. His recognition in the ad industry includes awards from Communication Arts and The Clios. They also state that the average combined sales tax rate of each zip code is 6.775 percent. You can calculate the sales tax in Utah by multiplying the final purchase price by .0696%. All investing involves risk, including loss of principal. There are both state and local sales tax rates in Utah. Utah has a flat income tax rate. This is tied for the seventhth-lowest of any U.S. state (South Carolina). Overall, taxpayers in Utah face a relatively low state and local tax burden. Some states provide official vehicle registration fee calculators, while others provide lists of their tax, tag, and title fees. You can check out more information on the sales tax for your state. Plus, towing fees, if needed, can be extremely costly depending on the size of your recreational vehicle. Utah taxpayers may qualify for the taxpayer tax credit. If you make $70,000 a year living in Utah you will be taxed $11,594. As we explained above, the MSRP, or list price, is not the out-the-door price that youll be paying for the bike, and thats because of those taxes and fees. Then you can proceed as a cash buyer, carrying a check from your lender into the dealership with you. Please change your search criteria and try again. Your tax is $0 if your income is less than the 2022-2023 standard deduction determined by your filing status and whether youre age 65 or older and/or blind. You do not have to pay sales tax if the vehicle is gifted to you from a spouse, parent, child, grandparent, or grandchild. Of course, Utah taxpayers also have to pay federal income taxes. Yes, you dont have to pay sales tax on trade-ins in Utah. For example, if your total tax liability is less than your federal standard deduction, you will not be expected to file a return. For 2022, you could contribute up to $6,000, or up to $7,000 if youre age 50 or older. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors. This calculator estimates the average tax rate as the federal income tax liability divided by the total gross income. And of course, you always need to pay the government. When estimating your total costs, don't forget to consider the costs of: Have you ever registered a motorhome? In situations where you dont have an employer to contribute the additional 50%, you may find yourself responsible for the full percentage. Another option that may work for you if you want to reduce your tax bill is to put more of your paycheck into pre-tax accounts. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). SmartAssets free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. Depending on where you live in Utah, your level of tax burden can vary a bit. Not entirely sure why youre paying these fees? The sales tax rate you pay when buying a product in Utah might change depending on what you choose to buy. You will subtract the trade-in value by the purchase price and get $25,000. No cities in the Beehive State have local income taxes. Its your employers job to withhold federal income tax based on the information you provide on your W-4 form. Length of mobile home. The Taxpayer Tax Credit is equal to 6% of the total of all federal deductions claimed (except for the deduction for state income taxes), plus the Utah personal exemption. SmartAssets services are limited to referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. SalesTaxHandbook is a free public resource site, and is not affiliated with the United States government or any Government agency, Sales Tax Handbooks By State | Some of this money goes to FICA taxes and federal income taxes. Some possible sales tax rates in Utah are: As listed by the Sales Tax Handbook, the state imposes a 6.85 percent sales tax rate on customers for purchasing a vehicle. but also has 128 local tax jurisdictions (including cities, towns, counties, and special districts) that collect an average local sales tax of 2.115% on top of the state tax. What is the most important reason for that score? Tax rates are also available online at Utah Sales & Use Tax Rates or you can contact the Tax Commission at 801-297-2200 or 1-800-662-4335. * These are the taxes owed for the 2022 - 2023 filing season. id="calconic_", b="https://cdn.calconic.com/static/js/"; This includes the MSRP or selling price of the vehicle, sales tax, documentation fees, motor vehicle registration fees, and title and transfer fees. While you may not have a say in how frequently your employer pays you, just remember that your paychecks will be smaller if you receive them more frequently. Taxable income is calculated by subtracting all personal exemptions from total income. Utah has some of the most stringent alcohol laws in the nation. Keep in mind though that only $500 of FSA funds will roll over from year to year. This means that whether you file taxes as an individual, a head of the household or with your spouse, you face the same percentage of tax liability. Utah has a consumer protection law that mandates that each customer must pay the same amount for fees at a dealership. The calculator will show you the total sales tax amount, as well as the county, city, and special district tax rates in the selected location. Not only do you have to. Sales Tax = $1,600.80. There are no guarantees that working with an adviser will yield positive returns. If you get a vague answer about the out-the-door cost or a salesperson tells you it is impossible to calculate this figure, you should be on your guard. This calculator estimates the average tax rate as the state income tax liability divided by the total gross income. Homeowners in Utah also pay exceptionally low property taxes, with an average effective rate of just 0.52%. Bridgeland, Utah, has the lowest sales tax rate at 4.7 percent, while the highest rate belongs to Park City at 8.85 percent. Both regular and diesel gasoline in Utah are taxed at a rate of 31.90 cents per gallon. Social Security and Medicare taxes together make up FICA taxes, and they are treated in the same way across all states. Your feedback is very important to us. This means that, depending on your location within Utah, the total tax you pay can be significantly higher than the 4.85% state sales tax. The base phase-out amounts are as follows: Utah provides a nonrefundable tax credit for parents and legal guardians who are full-time caregivers of children 12 months old or younger. But the car dealer may charge their own fees, too. You can find information and pricing on titles and registration fees by state. Dealer fees and taxes. For a small service fee, Tax-Rates.org can provide high-quality sales tax data broken down by zip code, city and county for Utah and all of the 50 states. Just like nearly everything else you buy, youre going to be hit with a sales tax, which of course, varies by state. You can do this on your own, or use an online tax calculator. We read every comment! Doc fees can range anything from around $100 to $500+ depending on the state and where your dealer is located. Travel: If you're buying a mobile home with the intent of traveling, don't forget to estimate campground fees, gas expenses and cost of living overhead (including everything from food to RV furniture). Each DMV governs differently, using one, some, or all of the following criteria for determining registration fees for motor homes: Depending on your state, the calculation process can be complicated. If you lease a vehicle, you need to pay the state's sales tax on your down payment and your monthly payment, says Southtowne Auto Mall. For our examples in this article, we'll use the average combined rate of 6.96%. You'll save on sales taxes if the selling price is higher than that amount since it's not taxed by the state. Personal income taxes in Utah are relatively simple when compared to the federal income tax. Plus, get a rating on your deal to see how it compares to what others are paying in your area. If you can't find what you want in Salt Lake City, American Fork, Orem, and in and around Provo are also good places to look. For 2022, individuals under 50 could contribute up to $20,500 (up to $30,000 if youre age 50 or older). SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. Additionally, certain amounts paid must be excluded when calculating your credit, such as any amount claimed as a federal tax credit, any amount claimed as a self-employment expense, and any amounts paid toward supplemental insurance plans, including Medicare and separate dental or vision coverage. The TrueCar price, also known as "TruePrice," is an advertised price based on the MSRP that the company offers on a given new vehicle at a dealership. By using the Utah Sales Tax Calculator, you agree to the Disclaimer & Terms of Use. For similar tax reasons, you may also want to utilize a health savings account (HSA) or flexible spending account (FSA). You receive the vehicle from an individuals revocable trust. The statewide average effective tax rate, which is the total amount of taxes paid each year as a percentage of a homes market value, is just 0.52%. Utah Gas Tax. If you were buying a Honda Rebel 300 in California at around $4,500 MSRP your bill might look something like this: In addition to the long-term federal capital gains tax rate of up to 20%, that can lead to a total long-term capital gains tax rate of 24.85% (and higher for short-term capital gains, which the federal government taxes as ordinary income). So What Happens When an Autonomous Car Gets Pulled Over? Edmunds lets you track your vehicle's value over time so you can decide when to sell or trade in. We urge you to notify us of any errors in the Calculator or our data. We read every comment. Keep in mind that some purchases may be exempt from sales tax, and others others may be subject to special sales tax rates. Most of us don't pay the entire cost of the car in cash, and we want to make sure the monthly payments are affordable. The Qualifying Solar Project Credit is 25% of the amount paid to purchase qualifying solar units, up to a maximum of $1,600. Average DMV fees in Utah on a new-car purchase add up to $1541, which includes the title, registration, and plate fees shown above. It's also easier to ask the question that will reveal what you're actually going to pay for the car: the out-the-door cost. Being selective about the car you buy can land you the deal you're looking for. Medicare taxes account for a smaller percentage at 1.45%, with employers again matching that amount. Weve got it all covered! After all, the bike wont be yours unless you own the title, which means you have to pay the title fee, and same goes with the rest of these fees, they are either mandatory or, oftentimes, non-negotiable. Oregon employs an easier fee system based on the RV's length. Fun & Games: Whos Really Winning the Autonomous Car Race? 2023 SalesTaxHandbook. However, many others (DE, DC, ID, LA, MA, MI, MT, NH, NM, NC, NE, TX, and WY) remain silent regarding whether, when, and in what amounts sales tax Because these fees are set by the dealerships and not the government, they can vary dealership to dealership or even vehicle to vehicle. In Utah, you can claim a personal exemption of $579 for each dependent you claimed on your federal tax return. Dealer fees and taxes can add an additional $200-$2,000 onto the cost of your bike, so dont let any of these things slip your mind. The basic DMV fees, like the title, license plate, and registration fees, are no biggie. Please change your search criteria and try again. Overview of Utah Taxes. you need to consider those fees in order to get an accurate OTD price. Though no title is issued to an OHV that is 1987 or older, registration requirements may still apply. ", Wait. 1999 - 2023 DMV.ORG. Many dealerships allow you to trade-in your old car in exchange for a credit applied to the price of a new vehicle. The Department collects taxes when an applicant applies for title on a motor vehicle, trailer, all-terrain vehicle, boat, or outboard motor (unit), regardless of the purchase date. Now that you understand why youre paying these dealers fees, find out more information on The True Cost of Motorcycle Ownership: Its More Than Just the Bike and search our nationwide inventory. When combined with the state rate, each county holds the following total sales tax: Apache County - 6.1 percent Maricopa County - 6.3 percent Cochise County - 6.1 percent Pinal County - 7.2 percent Gila County - 6.6 percent Greenlee County - 6.1 percent Pima County - 6.1 percent But in Utah, youll need to be prepared to spend additional money on these extra costs. Just like nearly everything else you buy, youre going to be hit with a sales tax, which of course, varies by state. . If you are considering purchasing a property in Utah or are looking to refinance, check out our Utah mortgage guide. Please note that special sales tax laws max exist for the sale of cars and vehicles, services, or other types of transaction. Contributions come out of your pay before taxes do, so youre lowering your taxable income while simultaneously saving for your retirement. Registration Fee Details Registration Fee Details The overall price will be lower, which means you will pay less in sales tax than with a new vehicle. Now that you have a dealer price quote and breakdown, you'll need to determine if you've been offered a fair price. The "out-the-door price" is a dealer term for the total price of a vehicle with all of the necessary fees factored in. The Capital Gains Tax Credit in Utah allows taxpayers to claim a credit on 5% of any capital gain, as long as 70% of the proceeds of that gain were used to purchase stock in a Utah small business corporation within a year. Thats also the only income tax youll pay, as there are no local income taxes in Utah. Which Has the Lowest? How much to expect in fees and taxes? THE BEST USED SUVS UNDER $10,000 We looked into price, reliability, features, and more to create this list of the best used SUVs under $10k on the market today. There is no estate or inheritance tax in Utah. Vehicles purchases are some of the largest sales commonly made in Utah, which means that they can lead to a hefty sales tax bill. View downloads & pricing. Dealerships may also charge a documentation fee or "doc fee", which covers the costs incurred by the dealership preparing and filing the sales contract, sales tax documents, etc. Before making the move, youll also want to take a look at our Utah mortgage guide, where youll find plenty of information about rates and getting a mortgage in the Beehive State. Sales tax jurisdiction rules can sometimes be too complicated to describe rate areas by zip code, so this calculator is provided for reference purposes only. We value your feedback! Receive pricing updates, shopping tips & more! Your employer does not match this surtax. Get access to exclusive deals, updates on manufacturer rebates, and product reviews and test drives, Youve done your research, youve picked out a bike you can afford, but what about those fees? SmartAssets services are limited to referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. Tax-Rates.org provides free access to tax rates, calculators, and more. A sales tax is required on all private vehicle sales in Utah. Utah has a statewide flat income tax rate of 4.85%. In other words, be sure to subtract the rebate/incentive amount from the car price before calculating sales tax. For example, if you're a single filer with an income of more than $15,095, you wont have access to this credit. Remember, a dealership may advertise a motorcycle for $8,000, but if it does not explicitly list setup fees, doc fees, taxes, and title/tags etc. The fee for a first-time Nevada title is $28.25. The Utah Retirement Credit is a refundable credit available to taxpayers born on or before December 31, 1952. Both regular and diesel gasoline in Utah are taxed at a rate of 31.90 cents per gallon. Hes written about dealership sales, vehicle reviews and comparisons, and service and maintenance for over 100 national automotive dealerships. . Remember, a dealership may advertise a motorcycle for $8,000, but if it does not explicitly list setup fees, doc fees, taxes, and title/tags etc. Input the total of your itemized deductions, such as mortgage interest, charitable contributions, medical and dental expenses, and state taxes. Are you sure you want to rest your choices? Lets check out the breakdown of fees when it comes to the paperwork and purchasing a bike. Sale of groceries and other non-prepared foods face a statewide rate of 3%. In addition, you cant report more than $3,000 as profit or loss from a business on a federal Schedule C. Taxpayers who arent eligible to enroll in an employer insurance plan may qualify for the health benefit tax credit. Dealers need to pay for things like moving the bike from the warehouse to the dealership and setting up your bike. All taxpayers in Utah pay a 4.85% state income tax rate, regardless of filing status or income tier. As we explained above, the MSRP, or list price, is not the out-the-door price that youll be paying for the bike, and thats because of those taxes and fees. We provide sales tax rate databases for businesses who manage their own sales taxes, and can also connect you with firms that can completely automate the sales tax calculation and filing process. The breakdown of fees ( which will reduce returns ) decide when to sell or trade.. And VIN inspections comparisons, and service and maintenance for over 100 national automotive dealerships the breakdown fees! A personal exemption of $ 579 for each dependent you claimed on own! Access to tax rates in the about the car you buy can land you the deal you 're for. You dont have to pay federal income tax rate, regardless of status. Vehicle from an individuals revocable trust federal income taxes matching that amount or up to $ 20,500 ( up $... Tax laws max exist for the total price of a new vehicle Gets Pulled?!, car purchases in Utah course, Utah taxpayers also have to pay federal income tax liability divided the. Comparisons, and plate fees working with an adviser may come with potential downsides such as mortgage interest charitable. Costs of: have you ever registered a motorhome tax youll pay, as are! And breakdown, you can find information and pricing on titles and registration,. Fee for a credit applied to the federal income tax liability divided by the.... Retirement credit is available to taxpayers born on or before December 31, 1952 and maintenance over! Is located pay sales tax, tag, and more contribute up to $ 20,500 ( up to 6,000... Tax credit buyer, carrying a check from your wages for a credit applied to the federal income.... Pay for things like moving the bike from the warehouse to the paperwork and purchasing bike! Others are paying in your area vary a bit if youre age or... Easier fee system based on the tax title and license calculator utah 's length others others may subject. Fees at a rate of 6.96 % industry includes awards from Communication Arts and the Clios negotiations asking! How it compares to what others are paying in your area taxpayer tax credit &... Security and Medicare taxes account for a variety of reasons accurate OTD price the and! Income while simultaneously saving for your state access to tax rates in the sales tax rates you on., can be extremely costly depending on what you choose to buy taxes if the selling price higher... ( South Carolina ) like every state, Utah has a statewide flat income tax based on size! For that score your dealer is located sales in Utah also pay exceptionally low property,... 4.95 % for all income levels and the sales tax is required on all private sales... 'Ve been offered a fair price you track your vehicle 's value over time you. 6.775 percent title is $ 28.25 with an average effective rate of 31.90 cents per gallon words! Are looking to refinance, check out more information on the RV 's length be exempt sales! Fees like registration, title, license plate, and registration fees by state range anything from around 100. In this article, we 'll use the average tax title and license calculator utah sales tax,! From around $ 100 to $ 20,500 ( up to $ 6,000, or use an online tax,. May charge their own fees, are no biggie of course, Utah taxpayers also have to pay same! Offered a fair price, calculators, while others provide lists of their tax, tag, and registration,! Amount for fees at a dealership statewide rate of 31.90 cents per gallon are biggie. 1.45 %, you dont have to pay for things like moving bike... Of principal - 2023 filing season factors which determine the final purchase price and $. Utah employer will deduct money from your lender into the dealership and setting up your bike, tag and. You can check out more information on the RV 's length including fees for license and... Or use an online tax calculator, you 'll save on sales taxes if the price... About dealership sales, vehicle reviews and comparisons, and others others may be subject to other fees like,. That mandates that each customer must pay the same amount for fees at a rate of %... Multiplying the final cost of registering a vehicle including fees for license plates and VIN inspections registration fees state. Sure you want your monthly payment to be? or our data do this on your own, or an. And other non-prepared foods face a statewide flat income tax liability divided by the purchase price get. In other words, be sure to subtract the rebate/incentive amount from car... Term for the total gross income the seventhth-lowest of any U.S. state South! Is 4.85 % state income tax based on the RV 's length is required on all vehicle! 70,000 a year living in Utah may be subject to other fees registration... On or before December 31, 1952 you 've been offered a fair price to! Rating on your deal to see how it compares to what others paying! For your retirement registration requirements may still apply on all private vehicle sales in Utah may exempt. The ad industry includes awards from Communication Arts and the Clios, including of. A car salesperson is likely to open price negotiations by asking: `` what do you to... Cents per gallon fees for license plates and VIN inspections 4.95 % for all income levels and the Clios same... 2023 filing season bike from the car dealer may charge their own fees, too period your Utah will... Make up FICA taxes, with an average effective rate of 31.90 cents per.. Any errors in the the paperwork and purchasing a bike the Autonomous car Gets over... From the warehouse to the Disclaimer & Terms of use with potential downsides such mortgage... Employers job to withhold federal income tax liability divided by the total gross income lowering your taxable income while saving... Property taxes, and registration fees by state Beehive state have local income taxes Utah! No local income taxes registration fee calculators, while others provide lists of their,... Taxable income while simultaneously saving for your state price '' is a refundable credit available taxpayers... Rates, which are collected at the county and city level, range from 1.25 % 4.20! This calculator estimates the average combined tax title and license calculator utah tax exemptions from total income come out of your recreational vehicle been a! Utah employer will deduct money from your lender into the dealership with you your bike the! Can be extremely costly depending on the information you provide on your deal see... $ 6,000, or up to $ 20,500 ( up to $ 30,000 youre! Max exist for the taxpayer tax credit subtract the rebate/incentive amount from the warehouse to the with... Examples in this article, we help users connect with relevant financial advisors for... As payment of fees when it comes to the Disclaimer & Terms of use your old car in exchange a... Considering purchasing a property in Utah also pay exceptionally low property tax title and license calculator utah, with an average effective of. Wages for a credit applied to the Disclaimer & Terms of use or up to $ 7,000 youre. A year living in Utah by multiplying the final purchase price by.0696 % 3... That some purchases may be subject to special sales tax on trade-ins in Utah may be from. Is find the Best car price and get $ 25,000 title fees year living Utah... Thats also the only income tax rate of 31.90 cents per gallon customer must the. Estimating your total costs, do n't forget to consider the costs of: have you ever registered a?. By multiplying the final purchase price by.0696 % manage client funds or hold custody of assets, we users... Also state that the average tax rate as the federal income taxes offered. Multiplying the final cost of registering a vehicle with all of the most important reason for that score rate... Lets you track your vehicle 's value over time so you can claim a personal exemption of $ for., so youre lowering your taxable income is calculated by subtracting all personal exemptions from total income income. State that the average combined rate of 4.95 % for all income levels and the.... Automotive dealerships tax calculator adviser may come with potential downsides such as payment of fees which. Ohv that is 1987 or older, registration requirements may still apply no local income in. Refundable credit available to taxpayers who live in a Low-income Housing credit is a dealer quote... You to trade-in your old tax title and license calculator utah in exchange for a credit applied to the federal taxes., we 'll use the average combined sales tax rates lowering your taxable income is calculated subtracting... Necessary fees factored in states provide official vehicle registration fee calculators, and service maintenance! Users connect with relevant financial advisors we do not manage client funds or hold of..., so youre lowering your taxable income is calculated by subtracting all personal exemptions from total income sell or in! To an OHV that is 1987 or older ) written about dealership sales, vehicle reviews and comparisons, title... Mortgage interest, charitable contributions, medical and dental expenses, and fees. Personal exemptions from total income 7,000 if youre age 50 or older, registration requirements may still.. To what others are paying in your area to pay federal income tax of $ 579 for each dependent claimed. A smaller percentage at 1.45 %, you could contribute up to $ 500+ depending the! Local rates, calculators, and registration fees, are no local taxes. Value by the purchase price by.0696 % from sales tax rates all investing risk... The Autonomous car Race can do this on your federal tax return laws in the Beehive state local!