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Senate passes omnibus tax bill (S.B. 223) reverting to a single‑rate income tax and changing food‑tax structure
Summary
Senate approved S.B. 223, an omnibus tax package that moves Utah from a bracketed income‑tax system to a single 5% rate, creates credits tied to federal deductions, reduces the state sales tax on food and consolidates several small 'boutique' taxes; the measure passed the Senate and was referred to the House with intent language for future adjustments and rural‑hospital hold‑harmless monitoring.
Senator Niederhauser described S.B. 223 as an omnibus tax package designed to simplify income tax and reduce rates. Under the presentation, beginning with the 2008 tax year the state would repeal the bracketed system and adopt a single 5% rate; the bill creates a nonrefundable credit equal to 6% of a taxpayer's federal standard or itemized deduction (with phased‑outs), converts a retirement deduction to a credit, and contains income‑based phase‑outs. "It will repeal our old…
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