Utah has lowered the corporate income tax rate from 4.54% to 4.45% for all corporations, effective 6 May 2026 and retroactive to 1 January 2026.

RF Report

The Governor of Utah signed multiple bills on 23 March 2026, including Senate Bill (S.B.) 60, which revises the state’s corporate income tax rates.

According to the Senate Bill (S.B.) 60, the corporate income tax rate will decrease from 4.54% to 4.45% for corporations doing business in the state. This applies to both domestic and foreign corporations calculating Utah taxable income, with the minimum annual tax remaining at USD 100.

Senate Bill 60 takes effect on 6 May 2026. However, the tax changes apply retrospectively to any taxable year starting on or after 1 January 2026.

Earlier, Utah cut its corporate franchise tax rates to 4.50% from 4.55% for taxable years starting on or after 1 January 2025, on 26 March 2025.