Even after the initial purchase, it costs thousands of dollars to own and maintain a vehicle. Youll feel a lot better by studying up before you go to the dealership. If you buy your vehicle in Utah, dealerships that operate in the state allow you to trade-in your old vehicle, and they'll apply a credit toward the selling price of a new one. As an example, lets say you are purchasing a new SUV for $35,000 and your trade-in is worth $10,000. Sales Tax = ($30,000 - $5,000 - $2,000) * .0696 As a rule of thumb, if you live in Utah or are reporting income from a Utah source and you need to file a federal tax return, youll likely need to file a Utah income tax return as well. These freight fees are often listed on the manufacturers website and in sales material and can be anywhere from $300-$900+. Click here to get more information. Vehicle Emissions Test In other words, be sure to subtract the trade-in amount from the car price before calculating sales tax. You can find these fees further down on the page. The calculator will show you the total sales tax amount, as well as the county, city, and special district tax rates in the selected location. Bridgeland, Utah, has the lowest sales tax rate at 4.7 percent, while the highest rate belongs to Park City at 8.85 percent. Pro Tip: When talking to a dealer or salesman, always ask for the out-the-door price to avoid any confusion when it comes to these additional fees. Tax-Rates.org provides free access to tax rates, calculators, and more. Rates for all 29 Utah counties, as well as 100 of the largest cities in the state, are shown in the table below. This means that you save the sales taxes you would otherwise have paid on the $5,000 value of your trade-in. Things like sales tax and other fees are often forgotten about in the excitement of making a new car purchase. When you purchase a vehicle in Utah, you'll have to pay fees that add to the total cost. If you're financing, the out-the-door cost should also include the interest charges. Usage is subject to our Terms and Privacy Policy. Now that you understand why youre paying these dealers fees, find out more information on, The True Cost of Motorcycle Ownership: Its More Than Just the Bike, Insert details about how the information is going to be processed. SmartAsset does not review the ongoing performance of any Adviser, participate in the management of any users account by an Adviser or provide advice regarding specific investments. Many dealerships allow you to trade-in your old car in exchange for a credit applied to the price of a new vehicle. Thats because every pay period your Utah employer will deduct money from your wages for a variety of reasons. Preapproval also lets you gauge whether the dealer's financing is a better deal for you. The Alta Ski Area gets over 500 inches of snow per year. The destination charge may cover the cost to get your bike to the dealer, but whos going to put your bike together? Just like nearly everything else you buy, youre going to be hit with a sales tax, which of course, varies by state. Download our Utah sales tax database! ", Wait. Another option that may work for you if you want to reduce your tax bill is to put more of your paycheck into pre-tax accounts. Use Edmunds Price Checker to input your specific details. Your average tax rate is 11.67% and your marginal tax rate is 22%. Heres What Time You Should Plan on Leaving, Great Again? You'll need to focus your attention on the selling price of the vehicle and the trade-in offer, if you have one. For instance, you can trade-in your old vehicle at the dealership and earn a $5,000 credit to put toward the purchase of a newer vehicle that costs $11,000, making the total selling price equal to $6,000. Overview of Utah Taxes. Read This First. Taxes can really put a dent in your paycheck. These fees are separate from the taxes and DMV fees listed above. Utah doesnt offer traditional tax deductions. Most importantly, it removes the use of allowances and instead features a five-step process that asks filers to indicate various personal information, along with dependents and additional income or jobs. For example, lets say that you want to purchase a new car for $30,000, you would use the following formula to calculate the sales tax: This means that your sales tax is $2,088 on a $30,000 purchase price. This is the case for self-employed people and some independent contractors. The calculator will show you the total sales tax amount, as well as the county, city, and special district tax rates in the selected location. This is not an offer to buy or sell any security or interest. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors. Some of the major tax credits include: Long-term and short-term capital gains in Utah are subject to the regular personal income tax rate of 4.85%. Calculate North Carolina Sales Tax Example. When combined with the state rate, each county holds the following total sales tax: Apache County - 6.1 percent Maricopa County - 6.3 percent Cochise County - 6.1 percent Pinal County - 7.2 percent Gila County - 6.6 percent Greenlee County - 6.1 percent Pima County - 6.1 percent Tax, Title & Fees**Currently Unavailable Total $23,000 Estimated Monthly Payment $ 426 Shop With Budget Get Pre-Qualified Utah Income Tax Calculator 2022-2023. We value your feedback! Park City, which is part of Summit County, has the highest tax rate in Utah at 9.05%. Utah has a very simple income tax system with just a single flat rate. Lyft Invests $100M in Other On-Demand Transportation Venture, VW Phasing Out Combustion Engines Starting in 2026. Remember that the total amount you pay for a car (out the door price) not only includes sales tax, but also registration, and dealership fees. The Low-income Housing Credit is available to taxpayers who live in a low-income housing project. It is the bottom line for the car deal and should include all the necessary fees, such as sales tax, title, license and registration fees. Enter your email to be notified when deals are published (usually once a month), You`ll also get my best tricks to help you. Please limit your response to 150 characters or less. The state rate is 4.85%. Youll be eligible for the credit as long as you meet the following criteria: Utah doesnt have an inheritance tax, meaning that you wont need to file an inheritance tax return. For example, here is how much you would pay inclusive of sales tax on a $200.00 purchase in the cities with the highest and lowest sales taxes in Utah: You can use our Utah sales tax calculator to determine the applicable sales tax for any location in Utah by entering the zip code in which the purchase takes place. The credit is nonrefundable and worth up to $300 for single filers without dependents, $600 for those married filing jointly without dependents, and $900 for all filers with dependents. . Some calculators may use taxable income when calculating the average tax rate. Please limit your response to 150 characters or less. Most states do provide some guidance as to whether sales tax (possibly including title and registration fees) should be included in the payment of auto total loss claims. If you earn wages in excess of $200,000 (single filers), $250,000 (joint filers) or $125,000 (married people filing separately), you have to pay a 0.9% Medicare surtax. Enter your IRA contributions for 2022. Tax-Rates.org reserves the right to amend these terms at any time. Different requirements, fees, and taxes apply, depending on your vehicle type and other factors. You can use our Utah Sales Tax Calculator to look up sales tax rates in Utah by address / zip code. Get access to exclusive deals, reviews and test drives, and updates on manufacturer rebates. You don't have to pay tax on dealer and manufacturer rebates in Utah. You cant own a vehicle without a title! Some dealerships may also charge a dealer documentation fee of 149 dollars . Some calculators may use taxable income when calculating the average tax rate. Dealer fees and taxes can add an additional $200-$2,000 onto the cost of your bike, so dont let any of these things slip your mind. Keep in mind that how often you receive paychecks will impact your paychecks. Utah law does not limit the amount of doc fees a dealer can charge. A financial advisor can help you understand how taxes fit into your overall financial goals. But know that the lowest rate in Utah is 6.1% and the highest is 9.05%. All rights reserved. Yes, you dont have to pay sales tax on trade-ins in Utah. How much you pay in federal income tax is based on factors like your salary, your marital status and if you asked for an additional dollar withholding. This means that whether you file taxes as an individual, a head of the household or with your spouse, you face the same percentage of tax liability. Both regular and diesel gasoline in Utah are taxed at a rate of 31.90 cents per gallon. You are negotiating on a car at the dealership when the salesperson finally gives you the good price you've wanted. This is for vehicle tax purposes. In addition to the long-term federal capital gains tax rate of up to 20%, that can lead to a total long-term capital gains tax rate of 24.85% (and higher for short-term capital gains, which the federal government taxes as ordinary income). What to Buy: Subaru Crosstrek or Subaru Forester? Utah has a very simple income tax system with just a single flat rate. Please contact us at 801-297-2200 or taxmaster@utah.gov for more information. The average doc fee in Utah is $3051, and In addition to taxes, car purchases in Utah may be subject to other fees like registration, title, and plate fees. Your feedback is very important to us. Input the total of your itemized deductions, such as mortgage interest, charitable contributions, medical and dental expenses, and state taxes. We read every comment. You receive the vehicle from an individuals revocable trust. Property tax rates are set at a local level by each county. Some of this money goes to FICA taxes and federal income taxes. Understanding Utah's sales tax on cars allows you to calculate the total cost of your vehicle once you're presented with a sales contract by the dealership. Get a quote from Dairyland >>. Just enter the five-digit zip code of the location in which the transaction takes place, and we will instantly calculate sales tax due to Utah, local counties, cities, and special taxation districts. Your tax, title, and license fees (also called registration fees) go straight to the government and will vary depending on your city and state. Print Exemption Certificates. Taxable income is calculated by subtracting all personal exemptions from total income. We found that the base state sales tax in Utah is 4.85%, but on average, local counties add up to 2.11%. This credit phases out above a certain income level, though. Both retail sales and leases of tangible personal property are taxable under Utah sales tax law. Pro Tip: We suggest shopping for financing before going to the dealership to save you time and money (after all, it always pays to be prepared!). Exemptions can be claimed for filers, spouses and dependents. Some states even limit this fee or have laws that guarantee all customers be charged the same, no negotiations. SmartAssets free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. Both regular and diesel gasoline in Utah are taxed at a rate of 31.90 cents per gallon. If you make $70,000 a year living in Utah you will be taxed $11,594. Dealer fees and taxes can add an additional $200-$2,000 onto the cost of your bike, so dont let any of these things slip your mind. Setup (or prep) fees are necessary to get your bike out of the crate, put together, and ready for you to ride. The article called "What New Car Fees Should You Pay?" The amount of the credit is determined by the Utah Housing Corporation. The out-the-door price is calculated by adding up the selling price of the vehicle, sales tax, and title, license, documentation and license fees. It will also help you identify any hidden fees or extras in the contract. There are no itemized or standard deductions in Utah, but the Taxpayer Tax Credit, described below, is based on federal deductions and can lower the tax burden for taxpayers at lower income levels. For our examples in this article, we'll use the average combined rate of 6.96%. SmartAssets services are limited to referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. In Utah, the state sales tax rate is 4.85%. Utah offers tax credits to reduce your tax liability, including a taxpayer tax credit, health benefit plan tax credit, and an at-home parent tax credit. For example, if you're a single filer with an income of more than $15,095, you wont have access to this credit. The TrueCar price, also known as "TruePrice," is an advertised price based on the MSRP that the company offers on a given new vehicle at a dealership. So, now that youre caught up on everything there is to know about these dealer fees, you can have peace of mind knowing exactly what you should expect to pay when you walk out the door. While you may not have a say in how frequently your employer pays you, just remember that your paychecks will be smaller if you receive them more frequently. You can find information and pricing on titles and registration fees by state here. * These are the taxes owed for the 2022 - 2023 filing season. Lets check out the breakdown of fees when it comes to the paperwork and purchasing a bike. For example, you might receive an offer for a $2,000 rebate on a car valued at $13,000. These fees are separate from the sales tax, and will likely be collected by the Utah Department of Motor Vehicles and not the Utah State Tax Commission. That said, it is still important to know what your monthly payment will be, especially with leasing, so make sure that you ask for that price with tax and registration fees included. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. This marginal tax rate means that your immediate additional income will be taxed at this rate. In addition to taxes, car purchases in Utah may be subject to other fees like registration, title, and plate fees. How would you rate your experience using this SmartAsset tool? Car Registration Fees Given the complexity in determining vehicle registration fees, it's best to use an online calculator, or what some state's refer to as a Fee Estimator. Please change your search criteria and try again. To qualify for this credit, your contribution cannot also have been deducted from your federal return. By using the Utah Sales Tax Calculator, you agree to the Disclaimer & Terms of Use. But the car dealer may charge their own fees, too. If you can't find what you want in Salt Lake City, American Fork, Orem, and in and around Provo are also good places to look. Weight of mobile home. Sales taxes in Utah range from 4.85% to 9.05%, depending on local rates. Thats also the only income tax youll pay, as there are no local income taxes in Utah. Instead, taxpayers may apply a portion of the amount they deducted from their federal return to their Utah Taxpayer Tax Credit. *Keep in mind that these are general estimates and most of these fees will vary by state and by county, so do your research! You might be using an unsupported or outdated browser. A sales tax is required on all private vehicle sales in Utah. Many places in Utah have the lowest tax rate available at 6.1%, with Wayne County being an example. To qualify for the credit, the child must be 12 months old or younger on the last day of 2021 and be listed as a dependent on your tax return, and your federal adjusted gross income must be $50,000 or less. Motor Vehicle Taxes & Fees Property Taxes Note regarding online filing and paying: For security reasons, our e-services are not available in most countries outside the United States. If you have to pay taxes on capital gains, you may be eligible for a capital gains tax credit. Cities and municipalities in Utah can collect sales taxes up to the rate of 2.1 percent. And a car salesperson is likely to open price negotiations by asking: "What do you want your monthly payment to be?" The following events are not taxable when it comes to vehicle transfers: Get the latestCar Dealsas soon as they come out. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. Contact us. Utah has some of the most stringent alcohol laws in the nation. You can avoid monthly-payment myopia by securing preapproved car financing. Shop and compare prices at multiple dealerships before you decide on a vehicle and the price you'll pay for it. Residential utilities such as gas and electricity are charged a sales tax rate of up to 6%. If you are considering purchasing a property in Utah or are looking to refinance, check out our Utah mortgage guide. While we attempt to ensure that the data provided is accurate and up to date, we cannot be held liable for errors in data or calculation or any consequence or loss resulting from the of use of the Calculator and data as provided by Tax-Rates.org. There are both state and local sales tax rates in Utah. Notably, you wont be eligible for this credit if you didnt participate in an employer-sponsored plan. Get a no-obligation offer for your car in minutes. Sales tax jurisdiction rules can sometimes be too complicated to describe rate areas by zip code, so this calculator is provided for reference purposes only. Destination charges are ultimately determined by the value of the bike, almost like a tax, and are typically not negotiable. Dealerships may also charge a documentation fee or "doc fee", which covers the costs incurred by the dealership preparing and filing the sales contract, sales tax documents, etc. Most of us don't pay the entire cost of the car in cash, and we want to make sure the monthly payments are affordable. However, there are a few exceptions to these rules. Let us know in a single click. Utah has a statewide flat income tax rate of 4.85%. What is the most important reason for that score? Not entirely sure why youre paying these fees? Our income tax calculator calculates your federal, state and local taxes based on several key inputs: your household income, location, filing status and number of personal exemptions. The rate of 2.1 percent total of your trade-in is worth $ 10,000, be to! Are negotiating on a car valued at $ 13,000 provides free access to rates! Regular and diesel gasoline in Utah may be eligible for this credit, your contribution can not also have deducted. 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