Written by: Stephen Hershey Kroes
During the early part of this year’s legislative session, there was a proposal to eliminate the personal property tax on businesses. While the bill was killed, the proposal has initiated dialogue on the efficacy and efficiency of the personal property tax on business equipment. This brief will explain the business personal property tax and some of the issues and trends surrounding the tax.
Written by: Stephen Hershey Kroes
Last November, former Governor Olene Walker released a comprehensive proposal to reform Utah’s tax structure to better meet the state’s future needs. One of the featured recommendations in the proposal was to broaden the sales tax base to include services that are provided to personal consumers.
Written by: Stephen Hershey Kroes
Responsiveness in state revenue collections to changes in revenue sources has been increasingly important in recent years. Economic fluctuations have the potential to disrupt state revenue collections and the resulting funding for needed services. Beginning with former Governor Olene Walker’s tax reform proposal, attention has been directed to an overhaul of Utah’s state personal income tax system.
Written by: Stephen Hershey Kroes
A newer report updates the figures on Utah’s tax burden. Please see that report here. Although Utah’s tax system is fairly typical in relying on a balance of property, income and sales taxes, Utah does have some unique tax policies that set it apart from many states. Most notable is Utah’s earmarking of 100% of income tax revenues for education funding. Another important feature of Utah’s tax system is the “truth in taxation” law that … Continued
Written by: Stephen Hershey Kroes
Measuring tax burden can be a complicated task. One issue is whether to measure the burden per capita, dividing tax revenues by population, or to use a measure that expresses the burden in proportion to income. Utah Foundation chooses to use a measure based on income, because it most clearly illustrates the financial load placed on residents and businesses to pay for government services. For Utah, per capita measures are always skewed by the state’s … Continued
Written by: Stephen Hershey Kroes
As Utah heads toward the initial stages of the 2004 election season, Utahns are feeling optimistic about the state’s future. However, Utahns continue to be concerned about the future of Utah’s public education system, the economy, water supply and quality, health, crime, and a number of issues.
Written by: Stephen Hershey Kroes
The purpose of this report is to detail the use of debt in the State of Utah from the 1990s through 2003 in order to facilitate a discussion about fiscal discipline and the appropriateness of debt. This report details the historical facts concerning growth in debt and changes in the role of debt over the last decade. It then outlines a framework to evaluate the use of debt by any government entity, and examine the … Continued
Written by: Stephen Hershey Kroes
It is the nature of a federal system of governments that a higher level of government with the power to tax has the power to redistribute that tax revenue. This is a prominent feature of our national governmental structure; the federal government collects income taxes and other revenues and spends those revenues on programs and projects that affect states to varying degrees.
Written by: Stephen Hershey Kroes
School choice and competition between public and private schools have become subjects of intense debate in Utah. Senate Bill 34, currently before the State Legislature, would provide a tuition tax credit to parents who pay for private school tuition or for individuals and companies that donate to private school scholarship funds. Advocates for the measure say it will improve education for all Utah children by providing greater opportunities for students to switch to private schools … Continued
Written by: Stephen Hershey Kroes
During times of economic recession, it can be challenging not only to predict where the economy is heading, but even to understand the current state of the economy. It is difficult for citizens, business leaders, government managers, and policymakers to know how to respond when they aren’t even certain how significant the problem is. This is currently the situation in America and in Utah.