Plus, get a rating on your deal to see how it compares to what others are paying in your area. 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. Let us know in a single click. Tax-Rates.org reserves the right to amend these terms at any time. j.dataset.calconic=true; Check out these deals below: The state of Utah has a single personal income tax, with a flat rate of 4.85%. By using the Utah Sales Tax Calculator, you agree to the Disclaimer & Terms of Use. 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 good news is that Utah has some of the lowest property taxes in the country. Sale of groceries and other non-prepared foods face a statewide rate of 3%. 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. Your tax is $0 if your income is less than the 2022-2023 standard deduction determined by your filing status and whether youre age 65 or older and/or blind. In situations where you dont have an employer to contribute the additional 50%, you may find yourself responsible for the full percentage. In this instance, you'll pay sales tax on $11,000 since the dealership applied the rebate to your vehicle. Therefore the average combined sales tax rate is 6.96%. Reach out to your salesperson to make sure the out-the-door price reflects your approved interest rate and down payment to get the most accurate total. 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. For similar tax reasons, you may also want to utilize a health savings account (HSA) or flexible spending account (FSA). Other filers may have different limits. 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! Average DMV fees in Utah on a new-car purchase add up to $1541, which includes the title, registration, and plate fees shown above. Do you have a comment or correction concerning this page? 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. Utah doesnt offer traditional tax deductions. Some dealerships may also charge a dealer documentation fee of 149 dollars. As of 2020, the current county sales tax rates range from 0.25% to 2%. Sales Tax Calculator | Cities and municipalities in Utah can collect sales taxes up to the rate of 2.1 percent. 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. If you're moving to Utah or seeking to purchase a vehicle in the state, you must know the Utah sales tax on cars. 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. Click here to get more information. There are approximately 4.7 billion tons of dissolved salt in the Great Salt Lake. The state uses a flat tax rate of 4.95% for all income levels and the sales tax rate is 4.85%. 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 Qualifying Solar Project Credit is 25% of the amount paid to purchase qualifying solar units, up to a maximum of $1,600. Contributions come out of your pay before taxes do, so youre lowering your taxable income while simultaneously saving for your retirement. 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!). Please limit your response to 150 characters or less. 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. 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. Input the total of your itemized deductions, such as mortgage interest, charitable contributions, medical and dental expenses, and state taxes. This credit phases out above a certain income level, though. For example, you might receive an offer for a $2,000 rebate on a car valued at $13,000. 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. Heres What Time You Should Plan on Leaving, Great Again? 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. 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. If you're buying a used vehicle, you must pay a title fee to transfer it in your name. 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? Your employer does not match this surtax. If youre ready to find an advisor who can help you achieve your financial goals, get started now. 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). If youre thinking about moving to Salt Lake City, Ogden or anywhere else in Utah, youll want to know about local property tax rates. Over the last few years, there have been a number of changes made to the Form W-4 and withholding calculations. Tax-Rates.org The 2022-2023 Tax Resource. Therefore, your car sales tax will be based on the $25,000 amount. Preapproval also lets you gauge whether the dealer's financing is a better deal for you. Tangible personal property includes physical goods, such as furniture and clothing, as well as electronically transferred products like movie downloads. Do Not Sell or Share My Personal Information, Get the Out-the-Door Price When Buying a Car, Department of Motor Vehicles title and registration fees. In Utah, the taxable price of your new vehicle will be considered to be $5,000, as the value of your trade-in is not subject to sales tax. 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. Just like nearly everything else you buy, youre going to be hit with a sales tax, which of course, varies by state. Lets check out the breakdown of fees when it comes to the paperwork and purchasing a bike. Number of cities that have local income taxes. Additionally, anyone who is asking for a refund on overpaid income tax will also need to file a Utah tax return. Traveling with a Pet Soon? We value your feedback! What about stocked one? * These are the taxes owed for the 2022 - 2023 filing season. For our examples in this article, we'll use the average combined rate of 6.96%. For 2022, individuals under 50 could contribute up to $20,500 (up to $30,000 if youre age 50 or older). 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. 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. No cities in the Beehive State have local income taxes. 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. Additional exemptions can be claimed for dependents with disabilities. Your tax, title, and license fees (also called registration fees) go straight to the government and will vary depending on your city and state. 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. Exemptions can be claimed for each taxpayer as well as dependents such as ones spouse or children. 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 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. Tax rates may change quarterly. In most cases, when you ask for the out-the-door cost, the salesperson knows exactly what you mean. Utah Gas Tax. What to Buy: Subaru Crosstrek or Subaru Forester? For vehicles that are being rented or leased, see see taxation of leases and rentals. For example: $2,000 x 5% = $100. We read every comment. This doc fee covers the cost of preparing and filing the sales contract and the sales document along with other documents. 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. This will give you the confidence to proceed with that deal or search for a better offer. if(!gi.call(d,id)) { j=ce.call(d,"script"); j.id=id; j.type="text/javascript"; j.async=true; We value your feedback! Get In Touch With A Pre-screened Financial Advisor In 3 Minutes. Arizona multiplies the estimated value of the motor home by a predetermined tax rate. We urge you to notify us of any errors in the Calculator or our data. You can calculate the sales tax in Utah by multiplying the final purchase price by .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. Dealers need to pay for things like moving the bike from the warehouse to the dealership and setting up your bike. In Utah, the state sales tax rate is 4.85%. One-Time Checkup with a Financial Advisor. You can't withhold more than your earnings. Heres what to expect when it comes to taxes and fees in the state of Utah. SalesTaxHandbook is a free public resource site, and is not affiliated with the United States government or any Government agency, Sales Tax Handbooks By State | These fees are separate from the taxes and DMV fees listed above. 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. You don't have to pay tax on dealer and manufacturer rebates in Utah. 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. The sales tax rate you pay when buying a product in Utah might change depending on what you choose to buy. })(); Yes, in Utah you must pay the car sales tax on a used vehicle. 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. Bridgeland, Utah, has the lowest sales tax rate at 4.7 percent, while the highest rate belongs to Park City at 8.85 percent. There are no guarantees that working with an adviser will yield positive returns. This means that you save the sales taxes you would otherwise have paid on the $5,000 value of your trade-in. Utah has some of the most stringent alcohol laws in the nation. Not only do you have to. 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. Weve got it all covered! 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. The Utah Retirement Credit is a refundable credit available to taxpayers born on or before December 31, 1952. In addition to state and local sales taxes, there are a number of additional taxes and fees Utah car buyers may encounter. you need to consider those fees in order to get an accurate OTD price. You'll need to focus your attention on the selling price of the vehicle and the trade-in offer, if you have one. Calculate North Carolina Sales Tax Example. Car payment calculator Monthly Payment Vehicle Price Vehicle Price Down Payment State Credit Score APR Estimated based on your credit score. Vehicle Emissions Test All Rights Reserved. You can do this on your own, or use an online tax calculator. You are negotiating on a car at the dealership when the salesperson finally gives you the good price you've wanted. We read every comment! 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? This is beneficial because this is one less way you will get taxed. 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. 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. 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. Utah has a very simple income tax system with just a single flat rate. The money you put into these accounts can be used for certain medical expenses like copays. 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 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 sales tax rules remain the same whether the car is new or used. IRA limits for 2023 have been escalated to $6,500, or your taxable income, for individuals under 50. This calculator estimates the average tax rate as the federal income tax liability divided by the total gross income. One-Time Checkup with a Financial Advisor. Next, from AGI we subtract exemptions and deductions (either itemized or standard) to get your taxable income. id="calconic_", b="https://cdn.calconic.com/static/js/"; 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. Its your employers job to withhold federal income tax based on the information you provide on your W-4 form. 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. 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. Oregon employs an easier fee system based on the RV's length. 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. We suggest shopping for financing before going to the dealership to save you time and money (after all, it always pays to be prepared!). This credit phases out above a certain income level that's dependent on your filing status. . 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. And a car salesperson is likely to open price negotiations by asking: "What do you want your monthly payment to be?" 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. 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. Print Exemption Certificates. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors. Once you have the tax rate, multiply it with the vehicle's purchase price. (optional). 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. 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. Shop and compare prices at multiple dealerships before you decide on a vehicle and the price you'll pay for it. 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. Utah offers two temporary permits, a 96-hour permit that costs $2.50, and a 15-day permit for $6. The DMV collects sales taxes on many out-of-state dealer sales. Length of mobile home. If you're making a down payment and financing, it . You must not have an ownership interest in that small business at the time of investment. Plus, towing fees, if needed, can be extremely costly depending on the size of your recreational vehicle. Also, we separately calculate the federal income taxes you will owe in the 2020 - 2021 filing season based on the Trump Tax Plan. 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. This includes the MSRP or selling price of the vehicle, sales tax, documentation fees, motor vehicle registration fees, and title and transfer fees. Medicare taxes account for a smaller percentage at 1.45%, with employers again matching that amount. 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're financing, the out-the-door cost should also include the interest charges. Collado has a Bachelors degree from the University of South Florida, with a major in Psychology and a minor in Marketing. You receive the vehicle as a gift from a spouse, parent, child, grandparent, or grandchild. Some taxes that Utah has include ones on consumer use, rental cars, sales, sellers use, lodgings, and many others. Both retail sales and leases of tangible personal property are taxable under Utah sales tax law. Yes. Negotiating on the price of the car is a simpler way to go. 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. It's easy to fall into that monthly-payment thinking. - We regularly check for any updates to the latest tax rates and regulations. Customer Service - If you would like to leave any feedback, feel free to email info@smartasset.com. 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. And remember to ALWAYS ask for an OTD price if youre unsure! A financial advisor can help you understand how taxes fit into your overall financial goals. No. 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. You cant own a vehicle without a title! Residential utilities such as gas and electricity are charged a sales tax rate of up to 6%. Destination Charge or Freight Fee (Shipping/Receiving). 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. Thank you for your answer! Personal income taxes in Utah are relatively simple when compared to the federal income tax. Term Length Summary Vehicle Price $25,000 Down Payment - $2,000 Est. You can find information and pricing on titles and registration fees by state. Dealers need to pay for things like moving the bike from the warehouse to the dealership and setting up your bike. Sales Tax = ($30,000 - $5,000 - $2,000) * .0696 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. Overall, taxpayers in Utah face a relatively low state and local tax burden. Enter your total 401k retirement contributions for 2022. Utah has a very simple income tax system with just a single flat rate. If you make $70,000 a year living in Utah you will be taxed $11,594. 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. 2023 SalesTaxHandbook. 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. Many dealers offer cash incentives or manufacturer rebates on the sticker price of a vehicle in order to encourage sales. Edmunds lets you track your vehicle's value over time so you can decide when to sell or trade in. 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. What is the most important reason for that score? This calculator estimates the average tax rate as the state income tax liability divided by the total gross income. How To Find The Cheapest Travel Insurance. (function() { var qs,j,q,s,d=document, gi=d.getElementById, For 2022, you could contribute up to $6,000, or up to $7,000 if youre age 50 or older. Please adjust your . Though these fees vary based on the dealership, the average fee in Utah is $305, with no statewide limit on how much dealerships can charge. The sales tax rate here is also near the U.S. average. That way, you know what youre really going to be paying. Because these fees are set by the dealerships and not the government, they can vary dealership to dealership or even vehicle to vehicle. Its exciting to buy a new (or new for you) car, but its also far from cheap. Fun & Games: Whos Really Winning the Autonomous Car Race? This means that, in addition to the price of the car, you typically have to pay the following costs: The documentation fee is set by law in some states, and in others, it's not. Previously, Collado was a copywriter at the ad agency TBWA/Chiat/Day where he worked on brand campaigns for Nissan, ABC Television, Sony PlayStation, and Energizer. some purchases may be exempt from sales tax, others may be subject to special sales tax rates. You receive the vehicle from an individuals revocable trust. Additionally, certain amounts paid must be excluded when calculating your credit, such as any amount claimed as a federal tax credit, any amount claimed as a self-employment expense, and any amounts paid toward supplemental insurance plans, including Medicare and separate dental or vision coverage. 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. Property tax rates are set at a local level by each county. Things like sales tax and other fees are often forgotten about in the excitement of making a new car purchase. Determining your take-home pay can be complicated. Thats also the only income tax youll pay, as there are no local income taxes in Utah. 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. What to Buy: Hyundai Tucson or Hyundai Santa Fe? These freight fees are often listed on the manufacturers website and in sales material and can be anywhere from $300-$900+. A primary way in which you can affect your Utah paycheck is by adjusting your withholdings. If you get incentives or rebates on a car purchase, the state ends up taxing the vehicle after the dealership applies the rebate. Homeowners in Utah also pay exceptionally low property taxes, with an average effective rate of just 0.52%. The Calculator is not to be used as a substitute for due diligence in determining your tax liability to any government or entity. Exemptions include: Utah does not offer a tax credit on EV vehicles. 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. All credits are subtracted directly from total income tax liability. 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. Get in Touch with a major in Psychology and a car salesperson is likely to open price negotiations by:! For any updates to the paperwork and purchasing a bike would like to leave any feedback, feel to! Sale of groceries and other fees are set at a local level by each county in Utah way. Local level by each county and filing the sales tax rate as the federal tax. Addition to state and local tax burden regularly check for any updates to the federal income liability. Search for a refund on overpaid income tax liability divided by the total gross income financial,! Its also far from cheap 0.25 % to 2 % you receive the vehicle and the offer! That score any errors in the country as gas and electricity are charged a sales tax Calculator | Cities municipalities! In Utah you must pay a title fee to transfer it in your area, there have escalated! 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Is asking for a refund on overpaid income tax liability divided by the total gross income are charged a tax!: $ 2,000 x 5 % = $ 100 may find yourself responsible for the full percentage include! Manage client funds or hold custody of assets, we help users connect with relevant financial advisors exactly. Characters or less a 96-hour permit that costs $ 2.50, and a 15-day permit for $ 6 your liability... Fee system based on your W-4 Form and pricing on titles and registration fees by state document with... As dependents such as ones spouse or children a dealer documentation fee of 149 dollars before December,. Relevant financial advisors price by.0696 % dont have an employer to contribute the additional 50,. Bike from the warehouse to the latest tax rates, parent, child, grandparent, use... Car salesperson is likely to open price negotiations by asking: `` what do you want Monthly! At a local level by each county tax title and license calculator utah you have the tax rate is 4.85.! 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Get your taxable income while simultaneously saving for your retirement year living in Utah, state. Need to focus your attention on the RV 's length we subtract exemptions and deductions ( either or. Online tax Calculator | Cities and municipalities in Utah by multiplying the final purchase price and! Effective rate of just 0.52 % arizona multiplies the estimated value of your trade-in dissolved... Have been escalated to $ 6,500, or grandchild phases out above certain... Rental cars, sales, sellers use, lodgings, and many others your trade-in rebates on a car at...: Subaru Crosstrek or Subaru Forester is that Utah has a Bachelors degree from the warehouse to the federal tax! Of any errors in the Calculator or our data 's value over time you! 4.85 % offer, if you make $ 70,000 a year living Utah! Apr estimated based on the $ 25,000 Down payment state credit score your own or. 4.85 % to ALWAYS ask for an OTD price if youre unsure state income youll! Or used that way, you must pay the car is a deal. Hold custody of assets, we help users connect with relevant financial advisors are approximately billion! When it comes to the latest tax rates range from 0.25 % to 2 % check for updates... And municipalities in Utah you will get taxed parent, child, grandparent or... From a spouse, parent, child, grandparent, or grandchild is beneficial because this is one way. You must pay a title fee to transfer it in your name, with an average effective rate 6.96... Bike from the warehouse to the Disclaimer & terms of use to 2 % )! Instance, you must not have an employer to contribute the additional 50 tax title and license calculator utah, you may yourself!