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Committee backs tax change aimed at keeping trading desks and financial jobs in Utah
2465423 · February 28, 2025
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Summary
Lawmakers voted to recommend a substitute to Senate Bill 219, a change that would align financial institutions with the state's single-sales-factor apportionment rules to help retain trading desks and other in-state financial jobs.
House members voted Feb. 28 to recommend the first substitute to Senate Bill 219, which changes how financial institutions are apportioned for the corporate franchise/income tax so that trading desks and similar operations are treated like other industries under the single-sales-factor approach.
Senator McKell and industry…
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