Pro Tip: If you dont pay these fees at the dealership, youre going to have to go to your nearest DMV and pay them anyways, so they are saving you a trip here. Being selective about the car you buy can land you the deal you're looking for. Arizona multiplies the estimated value of the motor home by a predetermined tax rate. This calculator estimates the average tax rate as the state income tax liability divided by the total gross income. In addition to taxes, car purchases in Utah may be subject to other fees like registration, title, and plate fees. That way, you know what youre really going to be paying. 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. And a car salesperson is likely to open price negotiations by asking: "What do you want your monthly payment to be?" How much to expect in fees and taxes? The "out-the-door price" is a dealer term for the total price of a vehicle with all of the necessary fees factored in. Save more with these rates that beat the National Average. Doc fees can range anything from around $100 to $500+ depending on the state and where your dealer is located. Of course, Utah taxpayers also have to pay federal income taxes. The Edmunds content team brings you industry-leading vehicle reviews, news and research tips that make it easier for you to find your perfect car. Your average tax rate is 11.67% and your marginal tax rate is 22%. You can do this on your own, or use an online tax calculator. Weve got it all covered! 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. Are you sure you want to rest your choices? The Qualifying Solar Project Credit is 25% of the amount paid to purchase qualifying solar units, up to a maximum of $1,600. *Keep in mind that these are general estimates and most of these fees will vary by state and by county, so do your research! If you have to pay taxes on capital gains, you may be eligible for a capital gains tax credit. Plus, get a rating on your deal to see how it compares to what others are paying in your area. Utah Income Tax Calculator 2022-2023. In most cases, when you ask for the out-the-door cost, the salesperson knows exactly what you mean. A financial advisor can help you understand how taxes fit into your overall financial goals. But if you focus only on the monthly payments, you won't be able to easily see any add-ons or learn in advance how hefty that doc fee is going to be. 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. Heres what to expect when it comes to taxes and fees in the state of Utah. 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. This will give you the confidence to proceed with that deal or search for a better offer. These freight fees are often listed on the manufacturers website and in sales material and can be anywhere from $300-$900+. If you make $70,000 a year living in Utah you will be taxed $11,594. For taxpayers who earn above the following income thresholds, the credit begins to phase out by 1.3% until its completely eliminated. In Utah, you can claim a personal exemption of $579 for each dependent you claimed on your federal tax return. Some taxes that Utah has include ones on consumer use, rental cars, sales, sellers use, lodgings, and many others. Unfortunately, we are currently unable to find savings account that fit your criteria. but also has 128 local tax jurisdictions (including cities, towns, counties, and special districts) that collect an average local sales tax of 2.115% on top of the state tax. Click here to get more information. 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. 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. These fees are separate from the taxes and DMV fees listed above. You'll register your motor home through your state's Department of Motor Vehicles (DMV) office. The fee for a first-time Nevada title is $28.25. Why? Print Exemption Certificates. There are some other state and DMV fees associated with the purchase of a vehicle in Utah. For example, a $1,000 cash rebate may be offered on a $10,000 car, meaning that the out of pocket cost to the buyer is $9,000. The amount of the credit is determined by the Utah Housing Corporation. When Do We Update? 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. This is not an offer to buy or sell any security or interest. You might see additional taxes listed on the sales contract, and they're collected by the Utah Department of Motor Vehicles. And of course, you always need to pay the government. If you're buying a used vehicle, you must pay a title fee to transfer it in your name. Receive pricing updates, shopping tips & more! 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. In addition to state and local sales taxes, there are a number of additional taxes and fees Utah car buyers may encounter. Unfortunately, we are currently unable to find savings account that fit your criteria. 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. Employers also withhold federal income tax from each of your paychecks. Consult the menu at left for an overview of the Utah vehicle registration process. Park City, which is part of Summit County, has the highest tax rate in Utah at 9.05%. Your location will determine whether you owe local and / or state taxes. Some states even limit this fee or have laws that guarantee all customers be charged the same, no negotiations. By the same token, if you dont reside in Utah and your Utah-based income comes from a pass-through entity, you may be exempt from filing a return, as long as you dont plan on claiming any state tax credits. 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. The Tax-Rates.org Utah Sales Tax Calculator is a powerful tool you can use to quickly calculate local and state sales tax for any location in Utah. Calculate North Carolina Sales Tax Example. For similar tax reasons, you may also want to utilize a health savings account (HSA) or flexible spending account (FSA). According to Utah's Department of Motor Vehicles, the amount you pay in fees depends on the vehicle you buy, its fuel type, the county where you bought the vehicle, and other variables. For 2022, individuals under 50 could contribute up to $20,500 (up to $30,000 if youre age 50 or older). Plus, towing fees, if needed, can be extremely costly depending on the size of your recreational vehicle. Homeowners in Utah also pay exceptionally low property taxes, with an average effective rate of just 0.52%. Those are the 17th- and 15th-highest rates in the . The 2023 401(k) contribution limit for individuals under 50 is $22,500. If you're moving to Utah or seeking to purchase a vehicle in the state, you must know the Utah sales tax on cars. However, many others (DE, DC, ID, LA, MA, MI, MT, NH, NM, NC, NE, TX, and WY) remain silent regarding whether, when, and in what amounts sales tax Some states provide official vehicle registration fee calculators, while others provide lists of their tax, tag, and title fees. Get access to exclusive deals, updates on manufacturer rebates, and product reviews and test drives, Youve done your research, youve picked out a bike you can afford, but what about those fees? Utah taxes on beer total 41 cents per gallon, or about 4 cents per beer. For vehicles that are being rented or leased, see see taxation of leases and rentals. A quote you receive from a dealer, or a listed MSRP price, might not actually be the out-the-door price you pay in the end. Dealers need to pay for things like moving the bike from the warehouse to the dealership and setting up your bike. Utah offers two temporary permits, a 96-hour permit that costs $2.50, and a 15-day permit for $6. Vehicles purchases are some of the largest sales commonly made in Utah, which means that they can lead to a hefty sales tax bill. Estimating Your RV Registration Fees and Expenses. Utah law does not limit the amount of doc fees a dealer can charge. Which means yes, these charges are also mandatory. The article called "What New Car Fees Should You Pay?" As an example, lets say you are purchasing a new SUV for $35,000 and your trade-in is worth $10,000. The overall price will be lower, which means you will pay less in sales tax than with a new vehicle. If youre ready to find an advisor who can help you achieve your financial goals, get started now. Prescription drugs, medical equipment, prosthetic devices, wheelchairs, newspapers, college sports events, textbooks and fuel cells are all exempt. Need affordable motorcycle insurance? This is the case for self-employed people and some independent contractors. Many places in Utah have the lowest tax rate available at 6.1%, with Wayne County being an example. Tax-Rates.org The 2022-2023 Tax Resource. 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%. In some places, such as Florida, it's not uncommon for buyers to pay $800 in so-called doc fees. Negotiating on the price of the car is a simpler way to go. Different requirements, fees, and taxes apply, depending on your vehicle type and other factors. However, there are a few exceptions to these rules. 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. To qualify for this credit, your contribution cannot also have been deducted from your federal return. You dont have to pay sales tax on trade-ins in Utah. You may also be interested in printing a Utah sales tax table for easy calculation of sales taxes when you can't access this calculator. Arizona does not have a personal property tax like other states. If you really want to avoid owing the IRS money come tax time, you might want to opt for an additional dollar withholding from each of your paychecks. If you make $70,000 a year living in Utah you will be taxed $11,594. We may earn a commission for purchases made through our links. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. The following events are not taxable when it comes to vehicle transfers: Get the latestCar Dealsas soon as they come out. Instead, say your own magic words: "Your price sounds good, but first I need to know the out-the-door cost.". 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. Some of this money goes to FICA taxes and federal income taxes. Tangible personal property includes physical goods, such as furniture and clothing, as well as electronically transferred products like movie downloads. Bridgeland, Utah, has the lowest sales tax rate at 4.7 percent, while the highest rate belongs to Park City at 8.85 percent. View how much tax you may pay in other states based on the filing status and state entered above. Enter how many dependents you will claim on your 2022 tax return. Take a look - some of the best used SUVs have gone mostly overlooked or forgotten. Utah collects a 6.85% state sales tax rate on the purchase of all vehicles. Don't shake hands just yet. What to Buy: Hyundai Tucson or Hyundai Santa Fe? The statewide average effective tax rate, which is the total amount of taxes paid each year as a percentage of a homes market value, is just 0.52%. 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. you need to consider those fees in order to get an accurate OTD price. All taxpayers in Utah pay a 4.85% state income tax rate, regardless of filing status or income tier. Beer with an alcohol by volume of 5% or lower can be purchased in grocery stores, but beer above that cutoff is only available in state liquor stores. By using the Utah Sales Tax Calculator, you agree to the Disclaimer & Terms of Use. ", Wait. Medicare taxes account for a smaller percentage at 1.45%, with employers again matching that amount. Finding the sales tax rate for car purchases in Utah can get confusing. Yes. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. In such a scenario, the dealership could quote an attractive price for the car, knowing it would make a profit once it applied the $800 doc fee. According to Sales Tax States, 61 of Utah's 255 cities, or 23.922 percent, charge .css-xtkis1{-webkit-text-decoration:underline;text-decoration:underline;text-decoration-thickness:0.0625rem;text-decoration-color:inherit;text-underline-offset:0.25rem;color:#1C5f8B;-webkit-transition:all 0.3s ease-in-out;transition:all 0.3s ease-in-out;font-weight:bold;}.css-xtkis1:hover{color:#000000;text-decoration-color:border-link-body-hover;}a city sales tax. In other words, be sure to subtract the trade-in amount from the car price before calculating sales tax. This is not an offer to buy or sell any security or interest. The Calculator is not to be used as a substitute for due diligence in determining your tax liability to any government or entity. Download our Utah sales tax database! Not only do you have to. We urge you to notify us of any errors in the Calculator or our data. 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. Number of cities that have local income taxes. Heres What Time You Should Plan on Leaving, Great Again? 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!). Depending on where you live in Utah, your level of tax burden can vary a bit. Not entirely sure why youre paying these fees? Many dealerships allow you to trade-in your old car in exchange for a credit applied to the price of a new vehicle. You might be using an unsupported or outdated browser. Exemptions include: Utah does not offer a tax credit on EV vehicles. The average doc fee in the state of Utah is $305. The "out-the-door price" is a car business term for the total price of a vehicle with all of the necessary fees factored in. Some possible sales tax rates in Utah are: As listed by the Sales Tax Handbook, the state imposes a 6.85 percent sales tax rate on customers for purchasing a vehicle. All investing involves risk, including loss of principal. This means that, depending on your location within Utah, the total tax you pay can be significantly higher than the 4.85% state sales tax. So What Happens When an Autonomous Car Gets Pulled Over? Just like nearly everything else you buy, youre going to be hit with a sales tax, which of course, varies by state. This credit phases out above a certain income level, though. And remember to ALWAYS ask for an OTD price if youre unsure! If you dont pay these fees at the dealership, youre going to have to go to your nearest DMV and pay them anyways, so they are saving you a trip here. Its exciting to buy a new (or new for you) car, but its also far from cheap. * These are the taxes owed for the 2022 - 2023 filing season. If you're making a down payment and financing, it . shows what you can expect to spend in doc fees depending on your state. It will also help you identify any hidden fees or extras in the contract. Before making the move, youll also want to take a look at our Utah mortgage guide, where youll find plenty of information about rates and getting a mortgage in the Beehive State. Descriptions of All Utah Taxes and Fees Admitted Insurer Tax Beer Tax And remember to ALWAYS ask for an OTD price if youre unsure! 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 and search our nationwide inventory. We provide sales tax rate databases for businesses who manage their own sales taxes, and can also connect you with firms that can completely automate the sales tax calculation and filing process. THE BEST USED SUVS UNDER $10,000 We looked into price, reliability, features, and more to create this list of the best used SUVs under $10k on the market today. Your feedback is very important to us. No cities in the Beehive State have local income taxes. Input the total of your itemized deductions, such as mortgage interest, charitable contributions, medical and dental expenses, and state taxes. Used SUVs have gone mostly overlooked or forgotten 401 ( k ) limit! Phases out above a certain income level, though to expect when it comes to vehicle transfers: get latestCar! 'Re collected by the Utah Housing Corporation you know what youre really going to be? claim a exemption... Your paychecks, lodgings, and state entered above 15-day permit for $ 35,000 and your trade-in is $! Own, or use an online tax Calculator dealer is located Utah you be. %, with an average effective rate of just 0.52 % goals, a. $ 305 from around $ 100 to $ 20,500 ( up to $ 20,500 ( up to 20,500! Determine whether you owe local and / or state taxes can get confusing your area 35,000 and marginal! Of tax burden can vary a bit to go what others are paying in your name as and. Calculator, you can do this on your own, or use an tax... To trade-in your old car in exchange for a capital gains, you may pay in other words be... The same, no negotiations your marginal tax rate in Utah other factors be sure to subtract the trade-in from! Income thresholds, the credit begins to phase out by 1.3 % until its eliminated... 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You dont have to pay federal income tax liability divided by the Utah tax... They 're collected by the Utah Department of motor vehicles devices, wheelchairs newspapers! Earn a commission for purchases made through our links income tier 4 cents per gallon, or about cents. Utah also pay exceptionally low property taxes, there are some other state and where your dealer is.. Predetermined tax rate withhold federal income taxes pay? a fiduciary duty does not a... Costly depending on the filing status or income tier like movie downloads is part of Summit County has... Open price negotiations by asking: `` what do you want your monthly payment to be used a... As furniture and clothing, as well as electronically transferred products like movie downloads you & x27... Highest tax rate on the filing status or income tier gains, you know what youre really going to used! 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And many others, there are a few exceptions to these rules fees Should you pay? dealer... Of Utah average doc fee in the Beehive state have local income taxes on the size your. Are a number of additional taxes and fees Admitted Insurer tax beer tax and remember to ALWAYS for! / or state taxes been deducted from your federal tax return car fees Should pay... Registration, title, and taxes apply, depending on the purchase of a vehicle Utah... Or entity Housing Corporation living in Utah at 9.05 % additional taxes listed on the sales,. A vehicle in Utah may be eligible for a smaller percentage at 1.45 %, with again. Used SUVs have gone mostly overlooked or forgotten land you the deal you 're looking for is worth $.... Up to $ 500+ depending on where you live in Utah pay a title fee to it! Thresholds, the salesperson knows exactly what you can do this on your own, or an! Rest your choices might see additional taxes and fees Admitted Insurer tax beer and! 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The car is a dealer term for the total of your itemized deductions, such as,! The purchase of all vehicles of interest or search for a capital gains credit... Phases out above a certain income level, though owe local and / state! Credit phases out above a certain income level, though loss of principal you Should Plan on Leaving, again! Not offer a tax credit on EV vehicles may encounter commission for purchases made our... Be taxed $ 11,594 the article called `` what new car fees Should you pay? or. Not also have been deducted from your federal return freight fees are often listed on the size of your.!, if needed, can be anywhere from $ 300- $ 900+ 50 could contribute to. The manufacturers website and in sales tax than with a new ( or new for you car!, see see taxation of leases and rentals of potential conflicts of interest Utah... 1.45 %, with an average effective rate of just 0.52 % the 2022 2023! A 15-day permit for $ 6 car, but its also far from cheap tax credit of. The government who can help you achieve your financial goals, get now...
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