Flat-rate five percent income tax proposed for Utah

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A high-powered tax task force recommended the flat tax along with 50 percent tax credits for charitable gifts and home mortgage interest on income taxes. Rep. John Dougall said the plan will have some "winners and some losers."

Original source:
http://deseretnews.com/dn/view/0,1249,635164929,00.html

Summary:

• Utah should have a flat-rate income tax of 5 percent, a high-powered tax task force recommended Monday.
• Deseret Morning News graphic State residents should also get 50 percent tax credits for charitable gifts and home mortgage interest on their income taxes.
• And the Legislature should remove the much-hated sales tax from unprepared food, the Task Reform Task Force recommends, although it didn't specify which of the proposed food tax plans should be adopted by legislators next year.
• The new 5 percent income tax plan will have some "winners and some losers" as far as who pays a bit more or a bit less in tax, said Rep. John Dougall, R-Highland.
• The 15-member task force has held dozens of official meetings --- not including countless private sessions between some members --- and half a dozen public hearings to come up with 20 or so specific tax reform recommendations for the Legislature.
• Several weeks ago, House Speaker Greg Curtis, R-Sandy, and Urquhart suggested removing the sales tax from food and increasing the sales tax rate slightly on nonfood items so the state doesn't lose all of the $166 million the food tax brings in.
• Not recommending a specific change, as the task force has done with its other proposals, "is a cop-out," said task force member Rep. Gordon Snow, R-Roosevelt.
• Snow said the task force, which includes House and Senate leaders from both parties, Huntsman chief of staff Neil Ashdown and Utah Tax Commission Chairwoman Pam Hendrickson, has a duty to be specific on which tax changes are the best.
• The state could end the year with $300 million in surplus if tax collections remain strong.
• In fact, the task force ended up recommending more than $100 million in tax cuts --- even larger tax cuts if some of the "conceptual" tax changes are all given at one time.

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