« Utah Legislature Votes to Remove Sales Tax Exemptions | Main | Free Market Saving the Environment »

12/13/2019

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Jimm Murray

It would be helpful to know what percent of net General Fund receipts each of the four categories makes up. It is hard to imagine why the Corporate Income Tax was so far off the projections, but knowing if that category simply makes up miniscule percent of the total tax revenue the state rakes in would put it in context.

Sarah Curry

That's a good point. Here is the breakdown:

Sales - 39%
Individual Income - 49%
Corporate Income - 6%
Miscellaneous - 7%

I rounded so it doesn't add to exactly 100%

Andrew Sullivan

What is stunning about it is the sales tax would easily bring in more revenue if the rate was lower and flatter. Unicameral has not figured this out yet.

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