Friday, March 09, 2007

The New Tax System

State income taxation is one of the biggest issues that Green Jello has focused on. After the recent session, I feel almost completely in the dark as to what to expect next tax year.

I know the duel plan was dropped and the flat tax system was modified with some credits for charitable giving, mortgage interest, and dependency exemptions. These developments sound very encouraging that the legislature may have found a way to make the tax cut beneficial for all Utahns at all income levels. However, I have been completely unsuccessful at finding actual numbers on how these credit will work.

If anyone has any links to hard numbers on how the tax credits are written please let me know about it. As an empiricist accountant, running on faith is an annoying proposition. Nonetheless, I'm excited to have the taxpayer-minded legislature in office that we now have.

2 comments:

Tyler Farrer said...

Have you seen the Utah Taxpayer Association blog post on the new tax? That's as specific as I've seen.

pramahaphil said...

Thanks