AI-generated summary, reviewed by Better Utah staff.

Utah's flat income tax rate applies to nearly every individual and business in the state, and this bill lowers that rate from 4.5% to 4.45% for both individual taxpayers and corporations, retroactive to January 1, 2026. Every Utah resident who pays state income taxes will owe slightly less on their 2026 return, though the savings for most households will be modest given the small size of the rate cut.