tax title and license calculator utah

Overall, taxpayers in Utah face a relatively low state and local tax burden. There is no estate or inheritance tax in Utah. 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. Many dealers offer cash incentives or manufacturer rebates on the sticker price of a vehicle in order to encourage sales. 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. The Utah Educational Savings Plan Credit is equal to 5% of the contributions made to each plan over the course of the year, up to a maximum of $102.47 per qualified beneficiary, or $204.93 for joint filers. Also, we separately calculate the federal income taxes you will owe in the 2020 - 2021 filing season based on the Trump Tax Plan. Sales Tax = ($30,000 - $5,000 - $2,000) * .0696 Since 2018, Utah has had a flat tax rate of 4.95%, meaning everyone pays the same state income tax rate regardless of their income. *Keep in mind that these are general estimates and most of these fees will vary by state and by county, so do your research! Just like nearly everything else you buy, youre going to be hit with a sales tax, which of course, varies by state. 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. In situations where you dont have an employer to contribute the additional 50%, you may find yourself responsible for the full percentage. Both regular and diesel gasoline in Utah are taxed at a rate of 31.90 cents per gallon. 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. We read every comment. Fun & Games: Whos Really Winning the Autonomous Car Race? Medicare taxes account for a smaller percentage at 1.45%, with employers again matching that amount. Some services are also taxable, including maintenance and repair labor, laundry services, admissions fees (to movies, sporting events, ski resorts, etc. All investing involves risk, including loss of principal. The Utah Retirement Credit is a refundable credit available to taxpayers born on or before December 31, 1952. Homeowners in Utah also pay exceptionally low property taxes, with an average effective rate of just 0.52%. 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. By using the Tax-Rates.org Utah Sales Tax Calculator ("the Calculator"), you expressly agree to the terms of use and disclaimer of liability expressed in this agreement and the Tax-Rates.org Terms of Service. Then you can proceed as a cash buyer, carrying a check from your lender into the dealership with you. 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. At some dealerships, the out-the-door costs are abbreviated as "TTL fees" or tax, title and license. If youre ready to find an advisor who can help you achieve your financial goals, get started now. In some places, such as Florida, it's not uncommon for buyers to pay $800 in so-called doc fees. Residential utilities such as gas and electricity are charged a sales tax rate of up to 6%. The amount you need to pay at the time of vehicle registration varies depending on vehicle type, fuel type, county, and other factors. When it comes time to find a new car, heading to dealerships in Salt Lake City will make it easier to find what you're looking for. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Those are the 17th- and 15th-highest rates in the . (optional). Oregon employs an easier fee system based on the RV's length. They also state that the average combined sales tax rate of each zip code is 6.775 percent. 1 - Average DMV and Documentation Fees for Utah calculated by Edmunds.com. Average DMV fees in Utah on a new-car purchase add up to $1541, which includes the title, registration, and plate fees shown above. The good news is that Utah has some of the lowest property taxes in the country. At least 70% of any proceeds from the transaction must be used to buy stock in a qualified Utah small business within 12 months of when the sale occurred. Why? The good news is, you can negotiate with the sales representative at the dealership to bring down to the price of the car you want and get it within your budget. Utah doesnt offer traditional tax deductions. 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. some purchases may be exempt from sales tax, others may be subject to special sales tax rates. In most cases, when you ask for the out-the-door cost, the salesperson knows exactly what you mean. If you are considering purchasing a property in Utah or are looking to refinance, check out our Utah mortgage guide. If youre thinking about moving to Salt Lake City, Ogden or anywhere else in Utah, youll want to know about local property tax rates. 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. In Utah, the state sales tax rate is 4.85%. Not entirely sure why youre paying these fees? Youll feel a lot better by studying up before you go to the dealership. Sale of groceries and other non-prepared foods face a statewide rate of 3%. Thats also the only income tax youll pay, as there are no local income taxes in Utah. Utah has some of the most stringent alcohol laws in the nation. Social Security and Medicare taxes together make up FICA taxes, and they are treated in the same way across all states. RV Maintenance: There are many more things that can "go wrong" in an RV than in a car. There is a single, flat rate paid by all income earners: 4.85% of their taxable income. But with a Savings or CD account, you can let your money work for you. The Calculator is not to be used as a substitute for due diligence in determining your tax liability to any government or entity. ), hotel and motel rooms and telecom services. 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. Simplify Utah sales tax compliance! Utah has a 4.85% statewide sales tax rate, Term Length Summary Vehicle Price $25,000 Down Payment - $2,000 Est. Travel: If you're buying a mobile home with the intent of traveling, don't forget to estimate campground fees, gas expenses and cost of living overhead (including everything from food to RV furniture). 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. If you're moving to Utah or seeking to purchase a vehicle in the state, you must know the Utah sales tax on cars. 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. Plus, towing fees, if needed, can be extremely costly depending on the size of your recreational vehicle. Enter your email to be notified when deals are published (usually once a month), You`ll also get my best tricks to help you. 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. The credit is worth 6% of either your federal standard deduction or itemized deduction (less state taxes paid). Average Retirement Savings: How Do You Compare? Instead, say your own magic words: "Your price sounds good, but first I need to know the out-the-door cost.". Holiday Traffic Expected to Reach an All-Time High This Year, Americas Singing Highways: The Ultimate Road Trip Playlist, Lets Take a Moment to Talk About Snow Driving, Wanna Beat Thanksgiving Traffic? His recognition in the ad industry includes awards from Communication Arts and The Clios. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). This credit phases out above a certain income level that's dependent on your filing status. Destination charges are ultimately determined by the value of the bike, almost like a tax, and are typically not negotiable. If you get incentives or rebates on a car purchase, the state ends up taxing the vehicle after the dealership applies the rebate. 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. 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. But the car dealer may charge their own fees, too. Utah offers two temporary permits, a 96-hour permit that costs $2.50, and a 15-day permit for $6. If you're making a down payment and financing, it . Choose the filing status you use when you file your tax return. Use our income tax calculator to estimate how much tax you might pay on your taxable income. However, you can get a tax credit of up to $7,500 from the Federal government. 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. If you're moving to Utah or seeking to purchase a vehicle in the state, you must know the Utah sales tax on cars. , but an official out-the-door price will include shipping and receiving fees, setup fees, doc fees, tags/title fees, and sales tax. In addition to taxes, car purchases in Utah may be subject to other fees like registration, title, and plate fees. 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. This also means that the fees will vary from dealership to dealership. shows what you can expect to spend in doc fees depending on your state. Your employer does not match this surtax. 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. 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. In addition to taxes, car purchases in Utah may be subject to other fees like registration, title, and plate fees. 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. Enter your total 401k retirement contributions for 2022. You are negotiating on a car at the dealership when the salesperson finally gives you the good price you've wanted. Utah Gas Tax. Utah Income Tax Calculator 2022-2023. Utah taxes vehicle purchases after rebates or incentives are applied to the price, which means that the buyer in this scenario will only pay taxes on the vehicle as if it cost $9,000. Some states provide official vehicle registration fee calculators, while others provide lists of their tax, tag, and title fees. Initial Car Price: $30,000; Highway-Use Tax: 3%; Trade-In Amount: $8,000; Rebate/Incentive Amount: $2,000; Sales Tax = ($30,000 - $8,000) * .03 Sales Tax = $660. Though no title is issued to an OHV that is 1987 or older, registration requirements may still apply. Utah has a very simple income tax system with just a single flat rate. For example, if your total tax liability is less than your federal standard deduction, you will not be expected to file a return. Vehicles purchases are some of the largest sales commonly made in Utah, which means that they can lead to a hefty sales tax bill. However, there are a few exceptions to these rules. 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. Descriptions of All Utah Taxes and Fees Admitted Insurer Tax Beer Tax Your average tax rate is 11.67% and your marginal tax rate is 22%. })(); Yes, in Utah you must pay the car sales tax on a used vehicle. j.dataset.calconic=true; The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. You can calculate the sales tax in Utah by multiplying the final purchase price by .0696%. Utah car dealerships offer incentives or rebates to car buyers. Sales taxes in Utah range from 4.85% to 9.05%, depending on local rates. You'll need to focus your attention on the selling price of the vehicle and the trade-in offer, if you have one. 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. How To Find The Cheapest Travel Insurance. You can avoid monthly-payment myopia by securing preapproved car financing. Liquor and wine can only be purchased in state-run liquor stores. 1999 - 2023 DMV.ORG. Your feedback is very important to us. 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. Do you have a comment or correction concerning this page? Bridgeland, Utah, has the lowest sales tax rate at 4.7 percent, while the highest rate belongs to Park . Arizona does not have a personal property tax like other states. Just like nearly everything else you buy, youre going to be hit with a sales tax, which of course, varies by state. 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). Collado has a Bachelors degree from the University of South Florida, with a major in Psychology and a minor in Marketing. Please note that special sales tax laws max exist for the sale of cars and vehicles, services, or other types of transaction. It allows you to see all aspects of the car deal in one place and gives you a complete picture of what you're paying. The sales tax rate here is also near the U.S. average. You cant own a vehicle without a title! No cities in the Beehive State have local income taxes. 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. 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! We suggest shopping for financing before going to the dealership to save you time and money (after all, it always pays to be prepared!). Both retail sales and leases of tangible personal property are taxable under Utah sales tax law. There are both state and local sales tax rates in Utah. Customer Service - If you would like to leave any feedback, feel free to email info@smartasset.com. So What Happens When an Autonomous Car Gets Pulled Over? This is for vehicle tax purposes. Other filers may have different limits. Additionally, anyone who is asking for a refund on overpaid income tax will also need to file a Utah tax return. 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. 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. Get access to exclusive deals, reviews and test drives, and updates on manufacturer rebates. Its your employers job to withhold federal income tax based on the information you provide on your W-4 form. The overall price will be lower, which means you will pay less in sales tax than with a new vehicle. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors. Dealerships may also charge a documentation fee. Which County Has the Highest Tax? Get a no-obligation offer for your car in minutes. You'll register your motor home through your state's Department of Motor Vehicles (DMV) office. 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. 2023 SalesTaxHandbook. In addition, you cant report more than $3,000 as profit or loss from a business on a federal Schedule C. Taxpayers who arent eligible to enroll in an employer insurance plan may qualify for the health benefit tax credit. You can't withhold more than your earnings. It does not include other fees, such as sales tax, title, license and registration fees, so you'd still want to ask for the out-the-door price. 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 You receive the vehicle from an individuals revocable trust. Exemptions include: Utah does not offer a tax credit on EV vehicles. 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. Input the total of your itemized deductions, such as mortgage interest, charitable contributions, medical and dental expenses, and state taxes. 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. https://www.autobytel.com/auto-news/buying-a-new-car-in-utah-107748/, https://www.salestaxhandbook.com/utah/sales-tax-vehicles, https://www.southtowneautomall.com/buy-a-new-car-in-utah.htm, http://www.salestaxstates.com/sales-tax-calculator-utah, .css-dhtls0{display:block;font-family:GlikoS,Georgia,Times,Serif;font-weight:400;margin-bottom:0;margin-top:0;-webkit-text-decoration:none;text-decoration:none;}@media (any-hover: hover){.css-dhtls0:hover{color:link-hover;}}@media(max-width: 48rem){.css-dhtls0{font-size:1.125rem;line-height:1.2;}}@media(min-width: 48rem){.css-dhtls0{font-size:1.25rem;line-height:1.2;}}@media(min-width: 61.25rem){.css-dhtls0{font-size:1.375rem;line-height:1.2;}}Levels of EV Charging, Electric Cars vs. Gas Cars: Pros and Cons. 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. Remember, a dealership may advertise a motorcycle for $8,000, but if it does not explicitly list setup fees, doc fees, taxes, and title/tags etc. The vehicle license tax is the most expensive, which we have calculated above for $100,000 worth of a new car ($1,680). Cities and municipalities in Utah can collect sales taxes up to the rate of 2.1 percent. For example, if you want to withhold an extra $50 from each paycheck, simply write $50 on the corresponding line of your W-4. Not only do you have to. Dealers need to pay for things like moving the bike from the warehouse to the dealership and setting up your bike. This calculator estimates the average tax rate as the federal income tax liability divided by the total gross income. There are other factors which determine the final cost of registering a vehicle including fees for license plates and VIN inspections. Tax-Rates.org The 2022-2023 Tax Resource. Thank you for your answer! For a one-year-old car of the same worth, this tax is $1,465. Contact us. We may earn a commission for purchases made through our links. Keep in mind that some purchases may be exempt from sales tax, and others others may be subject to special sales tax rates. Read This First. It will also help you identify any hidden fees or extras in the contract. To qualify for this credit, your contribution cannot also have been deducted from your federal return. Utah has a statewide flat income tax rate of 4.85%. Utah taxes on beer total 41 cents per gallon, or about 4 cents per beer. 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 If you're buying a used vehicle, you must pay a title fee to transfer it in your name. You can find these fees further down on the page. Tax, Title & Fees**Currently Unavailable Total $23,000 Estimated Monthly Payment $ 426 Shop With Budget Get Pre-Qualified Businesses shipping goods into Utah can look up their customer's tax rate by address or zip code at tap.utah.gov . That means the actual rates paid in Utah range from 6.1% to 9.05%. The base phase-out amounts are as follows: Utah provides a nonrefundable tax credit for parents and legal guardians who are full-time caregivers of children 12 months old or younger. Vehicle price. Contributions come out of your pay before taxes do, so youre lowering your taxable income while simultaneously saving for your retirement. Subscribe to our News and Updates to stay in the loop and on the road! Sales Tax Calculator | All investing involves risk, including loss of principal. It's easy to fall into that monthly-payment thinking. As an example, lets say you are purchasing a new SUV for $35,000 and your trade-in is worth $10,000. When Do We Update? Remember that not all dealerships will advertise the bike at MSRPto include these fees, so its important to ask for the out-the-door price so you know what youre going to be paying. 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? All taxpayers in Utah pay a 4.85% state income tax rate, regardless of filing status or income tier. You will subtract the trade-in value by the purchase price and get $25,000. Title fee - You must pay a title fee in order to title the car in your name. Utah law does not limit the amount that a dealership can charge because they are set by the dealership and not the government. Thats because every pay period your Utah employer will deduct money from your wages for a variety of reasons. Get In Touch With A Pre-screened Financial Advisor In 3 Minutes. You do not have to pay sales tax if the vehicle is gifted to you from a spouse, parent, child, grandparent, or grandchild. The Department collects taxes when an applicant applies for title on a motor vehicle, trailer, all-terrain vehicle, boat, or outboard motor (unit), regardless of the purchase date. 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. Before you seal the deal on your new car, make sure you ask about all the fees and costs. 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. You might be using an unsupported or outdated browser. Park City, which is part of Summit County, has the highest tax rate in Utah at 9.05%. The state uses a flat tax rate of 4.95% for all income levels and the sales tax rate is 4.85%. All credits are subtracted directly from total income tax liability. Edmunds lets you track your vehicle's value over time so you can decide when to sell or trade in. Each DMV governs differently, using one, some, or all of the following criteria for determining registration fees for motor homes: Depending on your state, the calculation process can be complicated. Determining your take-home pay can be complicated. What to Buy: Subaru Crosstrek or Subaru Forester? 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. Some dealerships may also charge a dealer documentation fee of 149 dollars. It's also easier to ask the question that will reveal what you're actually going to pay for the car: the out-the-door cost. 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. Tangible personal property includes physical goods, such as furniture and clothing, as well as electronically transferred products like movie downloads. 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. Length of mobile home. What is the most important reason for that score? - We regularly check for any updates to the latest tax rates and regulations. payments. If you get a vague answer about the out-the-door cost or a salesperson tells you it is impossible to calculate this figure, you should be on your guard. Both regular and diesel gasoline in Utah are taxed at a rate of 31.90 cents per gallon. If you were buying a Honda Rebel 300 in California at around $4,500 MSRP your bill might look something like this: 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. American Cars Fall Straight to the Bottom of Consumer Reports Most Reliable Rankings, The Top 10 Worst States for Identity Theft, Ford Issues Safety Recalls on Several Ford and Lincoln Models. 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. This is the case for self-employed people and some independent contractors. 2023 FindtheBestCarPrice.com, Front vehicle photos 1986-2023 Autodata, Inc. dba Chrome Data. This is one way to have extra money in your possession, and you could do anything with it, from depositing it in a high-interest savings account to paying down student loan debt. ce=d.createElement, gt=d.getElementsByTagName, Not only do you have to buy the bike, but an official out-the-door price will include shipping and receiving fees, setup fees, doc fees, tags/title fees, and sales tax. A financial advisor can help you understand how taxes fit into your overall financial goals. This will give you the confidence to proceed with that deal or search for a better offer. 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. Print Exemption Certificates. The sales tax rate you pay when buying a product in Utah might change depending on what you choose to buy. Many places in Utah have the lowest tax rate available at 6.1%, with Wayne County being an example. Tax-Rates.org provides free access to tax rates, calculators, and more. The average doc fee in the state of Utah is $305. Sales tax - Set by the state, you're going to be charged sales tax on your car unless you live in a state that doesn't have one. The money you put into these accounts can be used for certain medical expenses like copays. : 4.85 % of their taxable income are purchasing a new vehicle the road you file your return! Offer, if needed, can be used as a substitute for diligence! Advisor in 3 minutes, taxpayers in Utah range from 6.1 % to 9.05 % system with just a flat! Less in sales tax rate at 4.7 percent, while the highest rate to! Can not also have been deducted from your lender into the dealership applies the rebate through our links up $! Utah or are looking to refinance, check out our Utah mortgage guide ( DMV ) office conflicts of.! 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