The average doc fee in Utah is $3051, and If you're buying a used vehicle, you must pay a title fee to transfer it in your name. No cities in the Beehive State have local income taxes. Property tax rates are set at a local level by each county. 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. 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. Utah Sales Tax on Cars Everything You Need to Know, it costs thousands of dollars to own and maintain a vehicle, Your Privacy Choices: Opt Out of Sale/Targeted Ads, A few dealerships might charge a documentation fee of $149, A uniform fee of $150 for vehicles, depending on their class, An annual automobile education fee of $2.50 per year, An annual uninsured motorist identification fee of $1.00 per year. 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. 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!). Do you need access to a database of state or local sales tax rates? Find your state below to determine the total cost of your new car, including the car tax. However, you can get a tax credit of up to $7,500 from the Federal government. There are approximately 4.7 billion tons of dissolved salt in the Great Salt Lake. Dealer fees and taxes. The wide open areas of Utah can make it difficult for people who don't live near Salt Lake City to find the car they want. It's possible to get an out-the-door price from a dealer that doesn't include interest, so if you're financing, make sure to request that the numbers be updated to include it. Based on your filing status, your taxable income is then applied to the the tax brackets to calculate your federal income taxes owed for the year. 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. If youre ready to find an advisor who can help you achieve your financial goals, get started now. if(!gi.call(d,id)) { j=ce.call(d,"script"); j.id=id; j.type="text/javascript"; j.async=true; This marginal tax rate . As an example, lets say you are purchasing a new SUV for $35,000 and your trade-in is worth $10,000. As a buyer, it's better to learn about such fees at this point, before the deal is final, than when you are in the finance and insurance office about to sign the contract. Utah has a statewide flat income tax rate of 4.85%. 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. The DMV collects sales taxes on many out-of-state dealer sales. This credit phases out above a certain income level, though. Just like nearly everything else you buy, youre going to be hit with a sales tax, which of course, varies by state. What is the most important reason for that score? If you were buying a Honda Rebel 300 in California at around $4,500 MSRP your bill might look something like this: Average Retirement Savings: How Do You Compare? Before you seal the deal on your new car, make sure you ask about all the fees and costs. The Taxpayer Tax Credit is equal to 6% of the total of all federal deductions claimed (except for the deduction for state income taxes), plus the Utah personal exemption. Each DMV governs differently, using one, some, or all of the following criteria for determining registration fees for motor homes: Age of mobile home. The basic DMV fees, like the title, license plate, and registration fees, are no biggie. 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. Vehicle Emissions Test Youll feel a lot better by studying up before you go to the dealership. The Low-income Housing Credit is available to taxpayers who live in a low-income housing project. Vehicles purchases are some of the largest sales commonly made in Utah, which means that they can lead to a hefty sales tax bill. If you have to pay taxes on capital gains, you may be eligible for a capital gains tax credit. Your tax, title, and license fees (also called registration fees) go straight to the government and will vary depending on your city and state. 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. And of course, you always need to pay the government. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). There are some other state and DMV fees associated with the purchase of a vehicle in Utah. You can't withhold more than your earnings. These fees are for you to secure your proof of ownership, register for a license plate so you can hit the road legally, and get temporary tags in the meantime. For 2022, individuals under 50 could contribute up to $20,500 (up to $30,000 if youre age 50 or older). 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. The "out-the-door price" is a dealer term for the total price of a vehicle with all of the necessary fees factored in. This will give you the confidence to proceed with that deal or search for a better offer. Arizona multiplies the estimated value of the motor home by a predetermined tax rate. By using the Utah Sales Tax Calculator, you agree to the Disclaimer & Terms of Use. For taxpayers who earn above the following income thresholds, the credit begins to phase out by 1.3% until its completely eliminated. As an example, if you are purchasing a new car for $30,000 with a $5,000 rebate, you will pay sales tax on the $25,000 cost of the car. Likewise, Social Security income in Utah is taxable, but the Retirement Income Tax Credit helps alleviate the tax burden for retirees. Then you can proceed as a cash buyer, carrying a check from your lender into the dealership with you. You'll register your motor home through your state's Department of Motor Vehicles (DMV) office. As we explained above, the MSRP, or list price, is not the out-the-door price that youll be paying for the bike, and thats because of those taxes and fees. The credit is worth 6% of either your federal standard deduction or itemized deduction (less state taxes paid). If you were buying a Honda Rebel 300 in California at around $4,500 MSRP your bill might look something like this: *Keep in mind that these are general estimates and most of these fees will vary by state and by county, so do your research! Utah Gas Tax. It covers mortgage rates and other important information for moving to the city. The transaction must have occurred after Jan. 1, 2008. 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. Therefore, your car sales tax will be based on the $25,000 amount. Destination charges are ultimately determined by the value of the bike, almost like a tax, and are typically not negotiable. The out-the-door price is essentially the grand total of what a person buying a car needs to pay in order to "walk out of the front door" of the dealership, with the keys in hand. Much like every state, Utah has some sales tax exemptions for vehicle sales. Tax-Rates.org provides the Calculator on an AS-IS basis in the hope that it might be useful, with NO IMPLIED WARRANTY OF FITNESS. If you're moving to Utah or seeking to purchase a vehicle in the state, you must know the Utah sales tax on cars. Your average tax rate is 11.67% and your marginal tax rate is 22%. 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. Many places in Utah have the lowest tax rate available at 6.1%, with Wayne County being an example. The cigarette tax in Utah is $1.70 per pack of 20. 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. Get a no-obligation offer for your car in minutes. Park City, which is part of Summit County, has the highest tax rate in Utah at 9.05%. Now that you have a dealer price quote and breakdown, you'll need to determine if you've been offered a fair price. Tax-Rates.org reserves the right to amend these terms at any time. These freight fees are often listed on the manufacturers website and in sales material and can be anywhere from $300-$900+. 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. Still, purchasing a used car is a wise choice for many. Multiple sources state that the tax rate is 6.85%, but we haven't been able to verify that rate on the Utah DMV site. 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 You'll need to focus your attention on the selling price of the vehicle and the trade-in offer, if you have one. Usage is subject to our Terms and Privacy Policy. Plus, get a rating on your deal to see how it compares to what others are paying in your area. The article called "What New Car Fees Should You Pay?" Doc fees can range anything from around $100 to $500+ depending on the state and where your dealer is located. 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. The sales tax rules remain the same whether the car is new or used. 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. 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. Edmunds lets you track your vehicle's value over time so you can decide when to sell or trade in. Which Has the Lowest? Those are the 17th- and 15th-highest rates in the . Usage is subject to our Terms and Privacy Policy. In most cases, youre only responsible for paying 50% of your FICA taxes on your own. You can check out more information on the sales tax for your state. We value your feedback! Enter household income you received, such as wages, unemployment, interest and dividends. 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. Yes, you dont have to pay sales tax on trade-ins in Utah. This is true for income level as well. The amount you need to pay at the time of vehicle registration varies depending on vehicle type, fuel type, county, and other factors. Over the last few years, there have been a number of changes made to the Form W-4 and withholding calculations. So What Happens When an Autonomous Car Gets Pulled Over? 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. Why? For example, if your total tax liability is less than your federal standard deduction, you will not be expected to file a return. 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. Its your employers job to withhold federal income tax based on the information you provide on your W-4 form. Additional exemptions can be claimed for dependents with disabilities. And remember to ALWAYS ask for an OTD price if youre unsure! For example, you could trade-in your old car and receive a $5,000 credit against the price of a $10,000 new vehicle, making your out-of-pocket cost only $5,000. 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. These perks can increase a car dealership's sales and revenue while saving you money on the purchase of your new vehicle. In Utah, the state sales tax rate is 4.85%. Preapproval also lets you gauge whether the dealer's financing is a better deal for you. Unfortunately, we are currently unable to find savings account that fit your criteria. This calculator estimates the average tax rate as the state income tax liability divided by the total gross income. There are both state and local sales tax rates in Utah. There is a single, flat rate paid by all income earners: 4.85% of their taxable income. Thank you for your answer! 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. . For any trade-in, you'll pay sales tax on $5,000. First, we calculate your adjusted gross income (AGI) by taking your total household income and reducing it by certain items such as contributions to your 401(k). What about stocked one? Tax, Title & Fees**Currently Unavailable Total $23,000 Estimated Monthly Payment $ 426 Shop With Budget Get Pre-Qualified Enter your email to be notified when deals are published (usually once a month), You`ll also get my best tricks to help you. You dont have to pay sales tax on trade-ins in Utah. This also means that the fees will vary from dealership to dealership. Instead, taxpayers may apply a portion of the amount they deducted from their federal return to their Utah Taxpayer Tax Credit. 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. The average effective property tax rate in Utah is the seventhth-lowest in the country. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors. Residential utilities such as gas and electricity are charged a sales tax rate of up to 6%. After all, the bike wont be yours unless you own the title, which means you have to pay the title fee, and same goes with the rest of these fees, they are either mandatory or, oftentimes, non-negotiable. Some dealerships may also charge a dealer documentation fee of 149 dollars. This is not an offer to buy or sell any security or interest. * These are the taxes owed for the 2022 - 2023 filing season. Rates for all 29 Utah counties, as well as 100 of the largest cities in the state, are shown in the table below. Businesses shipping goods into Utah can look up their customer's tax rate by address or zip code at tap.utah.gov . Not entirely sure why youre paying these fees? Dealerships may also charge a documentation fee. *Keep in mind that these are general estimates and most of these fees will vary by state and by county, so do your research! 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. Autobytel shares the fees that you should expect to pay when buying a car: Once you complete the purchase of your vehicle, you'll receive a temporary tag that's good for 45 days, so you can legally drive while you wait for your new license plates to arrive in the mail. If you lease a vehicle, you need to pay the state's sales tax on your down payment and your monthly payment, says Southtowne Auto Mall. Trade-in value. Prescription drugs, medical equipment, prosthetic devices, wheelchairs, newspapers, college sports events, textbooks and fuel cells are all exempt. If your state doesn't provide a car registration fee and tax calculator, below are some common factors that go into determining your registration fees: Vehicle type. Enter your IRA contributions for 2022. The fee for a first-time Nevada title is $28.25. The credit can be up to $450, or $900 for joint filers. To find out the amount of all taxes and fees for your particular vehicle, please call the DMV at (801) 297-7780 or 1-800-DMV-UTAH (800-368-8824). If you believe your vehicle qualifies for an exception to Utah's title requirements that is not listed above, please call (801) 297-7780 or 1-800-368-8824 to speak to a representative for more information. When you purchase a vehicle in Utah, you'll have to pay fees that add to the total cost. We may earn a commission for purchases made through our links. If youre ready to find an advisor who can help you achieve your financial goals, get started now. Utah has a very simple income tax system with just a single flat rate. Tax information and rates are subject to change, please be sure to verify with your local DMV. The good news is that Utah has some of the lowest property taxes in the country. j.dataset.calconic=true; Sales Tax Calculator | Both regular and diesel gasoline in Utah are taxed at a rate of 31.90 cents per gallon. Utah collects a 6.85% state sales tax rate on the purchase of all vehicles. 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%. you need to consider those fees in order to get an accurate OTD price. You'll register your motor home through your state's Department of Motor Vehicles (DMV) office. These fees are separate from the taxes and DMV fees listed above. Market value of mobile home . ce=d.createElement, gt=d.getElementsByTagName, In other words, be sure to subtract the trade-in amount from the car price before calculating sales tax. Dealerships apply extra fees, sometimes referred to as doc fees, with the sale of the car. Many dealerships allow you to trade-in your old car in exchange for a credit applied to the price of a new vehicle. Some states consider year and weight, too. Why? All credits are subtracted directly from total income tax liability. Being selective about the car you buy can land you the deal you're looking for. You might see additional taxes listed on the sales contract, and they're collected by the Utah Department of Motor Vehicles. 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. Liquor and wine can only be purchased in state-run liquor stores. Depending on where you live in Utah, your level of tax burden can vary a bit. Do I Have to Pay Sales Tax on a Used Car? For a small service fee, Tax-Rates.org can provide high-quality sales tax data broken down by zip code, city and county for Utah and all of the 50 states. In some places, such as Florida, it's not uncommon for buyers to pay $800 in so-called doc fees. Traveling with a Pet Soon? Bridgeland, Utah, has the lowest sales tax rate at 4.7 percent, while the highest rate belongs to Park City at 8.85 percent. Please change your search criteria and try again. Idaho, for example, determines the fee by using a valuation factor based on one of the following motorhome chassis types: mini motor home, motor home, front engine diesel, rear engine diesel, or van conversions. Calculate North Carolina Sales Tax Example. You can find these fees further down on the page. All taxpayers in Utah pay a 4.85% state income tax rate, regardless of filing status or income tier. You'll want to be well-informed, that way you can make the right decision when purchasing a new car in this state. Of course, Utah taxpayers also have to pay federal income taxes. Therefore the average combined sales tax rate is 6.96%. Other filers may have different limits. 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. Enter your total 401k retirement contributions for 2022. 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. How would you rate your experience using this SmartAsset tool? Number of cities that have local income taxes. However, there are a few exceptions to these rules. For example, let's say that you want to purchase a new car for $30,000, you would use the following formula to calculate the sales tax: $30,000 x .0696 = $2,088 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. Employers also withhold federal income tax from each of your paychecks. Not only do you have to. A financial advisor can help you understand how taxes fit into your overall financial goals. 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). Check out these deals below: The state of Utah has a single personal income tax, with a flat rate of 4.85%. Hybrid/EV fee - Due to the loss of gasoline . If you make $70,000 a year living in Utah you will be taxed $11,594. Utah has a flat income tax rate. 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. Are you sure you want to rest your choices? The state of Utah requires you to pay taxes if you are a resident or nonresident that receives income from a Utah source. Subscribe to our News and Updates to stay in the loop and on the road! Taxable income is calculated by subtracting all personal exemptions from total income. You can find information and pricing on titles and registration fees by state. Both regular and diesel gasoline in Utah are taxed at a rate of 31.90 cents per gallon. Do you have a comment or correction concerning this page? These fees are for you to secure your proof of ownership, register for a license plate so you can hit the road legally, and get temporary tags in the meantime. Save more with these rates that beat the National Average. You do not have to pay sales tax if the vehicle is gifted to you from a spouse, parent, child, grandparent, or grandchild. Determining your take-home pay can be complicated. Average DMV fees in Utah on a new-car purchase add up to $1541, which includes the title, registration, and plate fees shown above. Descriptions of All Utah Taxes and Fees Admitted Insurer Tax Beer Tax Share your RV wisdom with our online community by leaving a comment below. You can avoid monthly-payment myopia by securing preapproved car financing. Utah has a consumer protection law that mandates that each customer must pay the same amount for fees at a dealership. Tax rates are also available online at Utah Sales & Use Tax Rates or you can contact the Tax Commission at 801-297-2200 or 1-800-662-4335.
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