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UT HB0587
Bill
Status
Failed
3/6/2026
Primary Sponsor
Steve Eliason
Click for details
AI Summary
- Reduces the corporate franchise and income tax rate from 4.5% to 4.45% on Utah taxable income
- Reduces the individual income tax rate from 4.5% to 4.45% on state taxable income
- Maintains the $100 minimum tax for corporations
- Takes effect May 6, 2026, with retrospective application to taxable years beginning on or after January 1, 2026
Legislative Description
Income Tax Amendments
Corporate Tax
Last Action
House/ filed in House file for bills not passed
3/6/2026
Committee Referrals
Rules2/19/2026
Full Bill Text
No bill text available