You can find information and pricing on titles and registration fees by state here. Utah has a flat income tax rate. Not entirely sure why youre paying these fees? 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. Local rates, which are collected at the county and city level, range from 1.25% to 4.20%. Many places in Utah have the lowest tax rate available at 6.1%, with Wayne County being an example. 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. There is a single, flat rate paid by all income earners: 4.85% of their taxable income. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). Businesses shipping goods into Utah can look up their customer's tax rate by address or zip code at tap.utah.gov . 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. Prescription drugs, medical equipment, prosthetic devices, wheelchairs, newspapers, college sports events, textbooks and fuel cells are all exempt. Doc fees can range anything from around $100 to $500+ depending on the state and where your dealer is located. 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. Of course, Utah taxpayers also have to pay federal income taxes. Download our Utah sales tax database! This is not an offer to buy or sell any security or interest. We read every comment. 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. Please note that special sales tax laws max exist for the sale of cars and vehicles, services, or other types of transaction. If you're moving to Utah or seeking to purchase a vehicle in the state, you must know the Utah sales tax on cars. For 2022, you could contribute up to $6,000, or up to $7,000 if youre age 50 or older. 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 can't find what you want in Salt Lake City, American Fork, Orem, and in and around Provo are also good places to look. For example, if you're a single filer with an income of more than $15,095, you wont have access to this credit. 2023 FindtheBestCarPrice.com, Front vehicle photos 1986-2023 Autodata, Inc. dba Chrome Data. Estimating Your RV Registration Fees and Expenses. Therefore the average combined sales tax rate is 6.96%. In other words, be sure to subtract the trade-in amount from the car price before calculating sales tax. You might be using an unsupported or outdated browser. Enter your total 401k retirement contributions for 2022. In other words, be sure to subtract the rebate/incentive amount from the car price before calculating sales tax. The article called "What New Car Fees Should You Pay?" The average doc fee in Utah is $3051, and 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. If you were buying a Honda Rebel 300 in California at around $4,500 MSRP your bill might look something like this: Choose the filing status you use when you file your tax return. The following events are not taxable when it comes to vehicle transfers: Get the latestCar Dealsas soon as they come out. 2023 SalesTaxHandbook. 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 Receive pricing updates, shopping tips & more! We value your feedback! Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). Thats because every pay period your Utah employer will deduct money from your wages for a variety of reasons. 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. Depending on where you live in Utah, your level of tax burden can vary a bit. Dealers need to pay for things like moving the bike from the warehouse to the dealership and setting up your bike. 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. 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. 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. 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 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. Setup (or prep) fees are necessary to get your bike out of the crate, put together, and ready for you to ride. One-Time Checkup with a Financial Advisor. 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. Thats also the only income tax youll pay, as there are no local income taxes in Utah. Some calculators may use taxable income when calculating the average tax rate. Your location will determine whether you owe local and / or state taxes. To qualify for this credit, your contribution cannot also have been deducted from your federal return. Some states consider year and weight, too. Its your employers job to withhold federal income tax based on the information you provide on your W-4 form. 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. Not only do you have to. Get In Touch With A Pre-screened Financial Advisor In 3 Minutes. You can check out more information on the sales tax for your state here. You don't have to pay tax on dealer and manufacturer rebates in Utah. When estimating your total costs, don't forget to consider the costs of: Have you ever registered a motorhome? Contact us. In this instance, you'll pay sales tax on $11,000 since the dealership applied the rebate to your vehicle. There are both state and local sales tax rates in Utah. 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. Other filers may have different limits. Unfortunately, we are currently unable to find savings account that fit your criteria. Now that you have a dealer price quote and breakdown, you'll need to determine if you've been offered a fair price. Heres what to expect when it comes to taxes and fees in the state of Utah. 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. Exemptions can be claimed for each taxpayer as well as dependents such as ones spouse or children. Sales Tax = ($30,000 - $5,000 - $2,000) * .0696 Don't shake hands just yet. 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. If youre thinking about moving to Salt Lake City, Ogden or anywhere else in Utah, youll want to know about local property tax rates. Heres What Time You Should Plan on Leaving, Great Again? But with a Savings or CD account, you can let your money work for you. Hes written about dealership sales, vehicle reviews and comparisons, and service and maintenance for over 100 national automotive dealerships. And of course, you always need to pay the government. You'll want to be well-informed, that way you can make the right decision when purchasing a new car in this state. Just like nearly everything else you buy, youre going to be hit with a sales tax, which of course, varies by state. If you're moving to Utah or seeking to purchase a vehicle in the state, you must know the Utah sales tax on cars. Edmunds lets you track your vehicle's value over time so you can decide when to sell or trade in. ce=d.createElement, gt=d.getElementsByTagName, The Low-income Housing Credit is available to taxpayers who live in a low-income housing project. Why? 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. Please change your search criteria and try again. If you are considering purchasing a property in Utah or are looking to refinance, check out our Utah mortgage guide. Weve got it all covered! But know that the lowest rate in Utah is 6.1% and the highest is 9.05%. Bridgeland, Utah, has the lowest sales tax rate at 4.7 percent, while the highest rate belongs to Park . Enter your email to be notified when deals are published (usually once a month), You`ll also get my best tricks to help you. Many dealerships allow you to trade-in your old car in exchange for a credit applied to the price of a new vehicle. 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 credit can be up to $450, or $900 for joint filers. In Utah, the state sales tax rate is 4.85%. Certain products are fully exempt from sales tax. Revenue from the tax is partially used to fund the states tobacco prevention and cessation program. Michael Collado is a car buying expert and has been a professional automotive writer since 2009. 1999 - 2023 DMV.ORG. In other words, be sure to subtract the trade-in amount from the car price before calculating sales tax. You are negotiating on a car at the dealership when the salesperson finally gives you the good price you've wanted. All rights reserved. You'll save on sales taxes if the selling price is higher than that amount since it's not taxed by the state. 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. We read every comment! 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. Use Edmunds Price Checker to input your specific details. Tangible personal property includes physical goods, such as furniture and clothing, as well as electronically transferred products like movie downloads. Average Retirement Savings: How Do You Compare? Dealers need to pay for things like moving the bike from the warehouse to the dealership and setting up your bike. Utah doesnt offer traditional tax deductions. 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. Vehicle Emissions Test If youre ready to find an advisor who can help you achieve your financial goals, get started now. 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. The amount you need to pay at the time of vehicle registration varies depending on vehicle type, fuel type, county, and other factors. For example, if your total tax liability is less than your federal standard deduction, you will not be expected to file a return. You might see additional taxes listed on the sales contract, and they're collected by the Utah Department of Motor Vehicles. This is not an offer to buy or sell any security or interest. Residential utilities such as gas and electricity are charged a sales tax rate of up to 6%. 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. Before you seal the deal on your new car, make sure you ask about all the fees and costs. Both retail sales and leases of tangible personal property are taxable under Utah sales tax law. All taxpayers in Utah pay a 4.85% state income tax rate, regardless of filing status or income tier. 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). Both regular and diesel gasoline in Utah are taxed at a rate of 31.90 cents per gallon. How to Calculate Utah Sales Tax on a Car You can calculate the sales tax in Utah by multiplying the final purchase price by .0696%. 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. And of course, you always need to pay the government. (optional). If your employer offers a 401(k) or 403(b) retirement account, you could choose to increase your contribution to it. Let us know in a single click. Utah taxes on beer total 41 cents per gallon, or about 4 cents per beer. 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. A sales tax is required on all private vehicle sales in Utah. Things like sales tax and other fees are often forgotten about in the excitement of making a new car purchase. 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. What to Buy: Hyundai Tucson or Hyundai Santa Fe? Sales tax jurisdiction rules can sometimes be too complicated to describe rate areas by zip code, so this calculator is provided for reference purposes only. There are other factors which determine the final cost of registering a vehicle including fees for license plates and VIN inspections. 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. You can do this on your own, or use an online tax calculator. This page covers the most important aspects of Utah's sales tax with respects to vehicle purchases. It covers mortgage rates and other important information for moving to the city. If your total itemized deductions are less than the standard deduction, the calculator will use the standard deduction. Taxes can really put a dent in your paycheck. Registering Your Vehicles in Utah. Most on- and off-road vehicles, boats, aircraft, and commercial vehicles must be registered to operate in Utah. 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. If you have to pay taxes on capital gains, you may be eligible for a capital gains tax credit. What to Buy: Jeep Cherokee or Jeep Grand Cherokee? Sales Tax Calculator | 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. Also, we separately calculate the federal income taxes you will owe in the 2020 - 2021 filing season based on the Trump Tax Plan. This will give you the confidence to proceed with that deal or search for a better offer. All Rights Reserved. The credit is worth 6% of either your federal standard deduction or itemized deduction (less state taxes paid). This is the case for self-employed people and some independent contractors. 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. Bridgeland, Utah, has the lowest sales tax rate at 4.7 percent, while the highest rate belongs to Park City at 8.85 percent. 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. 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. For example: $2,000 x 5% = $100. We suggest shopping for financing before going to the dealership to save you time and money (after all, it always pays to be prepared!). Next, from AGI we subtract exemptions and deductions (either itemized or standard) to get your taxable income. For example, if you want to withhold an extra $50 from each paycheck, simply write $50 on the corresponding line of your W-4. However, you can get a tax credit of up to $7,500 from the Federal government. Many places in Utah have the lowest tax rate available at 6.1%, with Wayne County being an example. 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. j.dataset.calconic=true; Rebates and incentives: Customer cash rebates and other incentives reduce the purchase price of the vehicle. When Do We Update? Your average tax rate is 11.67% and your marginal tax rate is 22%. 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. 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. Find your state below to determine the total cost of your new car, including the car tax. View downloads & pricing. Utah Gas Tax. 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