The Governor of Utah, Spencer Cox, signed House Bill (HB) 106 on 26 March 2025, cutting corporate franchise tax rates to 4.50% from 4.55% for taxable years starting on or after 1 January 2025.
The USD 100 minimum tax remains unchanged.
Earlier, on 14 March 2024, the Governor of Utah approved the bill which reduced the corporate franchise tax rates from 4.65% to 4.55%.
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