FOR IMMEDIATE RELEASE
Wednesday, October 9, 2013
M. Royce Van Tassell
Tax Foundation’s Latest Report Lauds Utah Tax Structure,
Shows Opportunities for Improvement
Draper, Utah–Today the Tax Foundation released the 2014 “State Business Tax Climate Index,” and Utah is once again ranked in the Top 10. The “State Business Tax Climate Index” evaluates each state’s tax structure using more than 100 variables from each state’s individual income tax, corporate income tax, sales tax, unemployment insurance tax, and property tax. The index shows how various elements of a state’s tax system enhance or harm the competitiveness of a state’s business climate.
“Utah’s Legislature and the Governor have adopted sound tax policies. By maintaining a broad base and low rates, Utah’s tax system invites people to invest their lives and their fortunes in Utah,” said M. Royce Van Tassell, vice president of the Utah Taxpayers Association.
While the Tax Foundation’s Index gives Utah much to celebrate, the Index shows many areas where Utah can improve. Utah should continue to lower the personal and corporate income tax rate. Utah should also simplify the sales tax by eliminating boutique sales taxes like the RAP, ZAP or CARE taxes across the state.
Van Tassell continued, “Utah cannot rest on past laurels. In one of the more surprising findings, Indiana moved up and knocked Texas out of the Top 10.” He concluded, “Every state is gunning to be better than Utah, so we’ve got to continually improve our tax structure. The Taxpayers Association looks forward to working with our state and local elected officials to make Utah more attractive for families and businesses.”
A full copy of the “State Business Tax Climate Index” is available on the Tax Foundation’s website,www.taxfoundation.org.
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