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%. ", Wait. While you may not have a say in how frequently your employer pays you, just remember that your paychecks will be smaller if you receive them more frequently. You can find these fees further down on the page. Utah has some of the most stringent alcohol laws in the nation. Michael Collado is a car buying expert and has been a professional automotive writer since 2009. Once you have the tax rate, multiply it with the vehicle's purchase price. 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. Use our income tax calculator to estimate how much tax you might pay on your taxable income. payments. 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. Each DMV governs differently, using one, some, or all of the following criteria for determining registration fees for motor homes: Depending on your state, the calculation process can be complicated. })(); Yes, in Utah you must pay the car sales tax on a used vehicle. (optional). Utah collects a 6.85% state sales tax rate on the purchase of all vehicles. A withholding of 6.2% of your income goes toward Social Security taxes with an additional 6.2% coming from your employer. How would you rate your experience using this SmartAsset tool? However, you can get a tax credit of up to $7,500 from the Federal government. There are both state and local sales tax rates in Utah. If you're moving to Utah or seeking to purchase a vehicle in the state, you must know the Utah sales tax on cars. 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. Overall, taxpayers in Utah face a relatively low state and local tax burden. When in the market for a recreational vehicle (RV), be sure to factor in RV registration fees and other registration-related expenses once it's time to estimate the overall cost. 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. 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). 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? Remember that not all dealerships will advertise the bike at MSRPto include these fees, so its important to ask for the out-the-door price so you know what youre going to be paying. For additional information click on the links below: Motor vehicle titling and registration Motor vehicle title penalties As a rule of thumb, if you live in Utah or are reporting income from a Utah source and you need to file a federal tax return, youll likely need to file a Utah income tax return as well. Local rates, which are collected at the county and city level, range from 1.25% to 4.20%. Then, there's the vehicle sales tax and yes, this applies to private-party sales too. You receive the vehicle from an individuals revocable trust. Multiple sources state that the tax rate is 6.85%, but we haven't been able to verify that rate on the Utah DMV site. All Rights Reserved. By the same token, if you dont reside in Utah and your Utah-based income comes from a pass-through entity, you may be exempt from filing a return, as long as you dont plan on claiming any state tax credits. If your employer offers a 401(k) or 403(b) retirement account, you could choose to increase your contribution to it. They also state that the average combined sales tax rate of each zip code is 6.775 percent. Enter your total 401k retirement contributions for 2022. Idaho, for example, determines the fee by using a valuation factor based on one of the following motorhome chassis types: mini motor home, motor home, front engine diesel, rear engine diesel, or van conversions. Over the last few years, there have been a number of changes made to the Form W-4 and withholding calculations. Some calculators may use taxable income when calculating the average tax rate. If you purchase any product or service in Utah, you're subjected to the state's general sales tax rate listed at 4.85 percent. Certain products are fully exempt from sales tax. Please limit your response to 150 characters or less. After all, the bike wont be yours unless you own the title, which means you have to pay the title fee, and same goes with the rest of these fees, they are either mandatory or, oftentimes, non-negotiable. 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. Homeowners in Utah also pay exceptionally low property taxes, with an average effective rate of just 0.52%. Preapproval also lets you gauge whether the dealer's financing is a better deal for you. Let us know in a single click. Average Retirement Savings: How Do You Compare? This is tied for the seventhth-lowest of any U.S. state (South Carolina). Keep in mind that some purchases may be exempt from sales tax, and others others may be subject to special sales tax rates. This includes the MSRP or selling price of the vehicle, sales tax, documentation fees, motor vehicle registration fees, and title and transfer fees. This calculator estimates the average tax rate as the state income tax liability divided by the total gross income. Dealerships may also charge a documentation fee. Revenue from the tax is partially used to fund the states tobacco prevention and cessation program. For example, if you're a single filer with an income of more than $15,095, you wont have access to this credit. 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. There is no estate or inheritance tax in Utah. This is the case for self-employed people and some independent contractors. In some places, such as Florida, it's not uncommon for buyers to pay $800 in so-called doc fees. Utah Sales Tax Calculator You can use our Utah Sales Tax Calculator to look up sales tax rates in Utah by address / zip code. Do you need access to a database of state or local sales tax rates? 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. 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. Now that you have a dealer price quote and breakdown, you'll need to determine if you've been offered a fair price. 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. Don't shake hands just yet. Tangible personal property includes physical goods, such as furniture and clothing, as well as electronically transferred products like movie downloads. Weve got it all covered! For example, you could trade-in your old car and receive a $5,000 credit against the price of a $10,000 new vehicle, making your out-of-pocket cost only $5,000. Vehicle Emissions Test The Utah Educational Savings Plan Credit is equal to 5% of the contributions made to each plan over the course of the year, up to a maximum of $102.47 per qualified beneficiary, or $204.93 for joint filers. There are no guarantees that working with an adviser will yield positive returns. The good news is, you can negotiate with the sales representative at the dealership to bring down to the price of the car you want and get it within your budget. It does not include other fees, such as sales tax, title, license and registration fees, so you'd still want to ask for the out-the-door price. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors. Usage is subject to our Terms and Privacy Policy. Each DMV governs differently, using one, some, or all of the following criteria for determining registration fees for motor homes: Age of mobile home. Please contact us at 801-297-2200 or taxmaster@utah.gov for more information. Those are the 17th- and 15th-highest rates in the . As an example, lets say you are purchasing a new SUV for $35,000 and your trade-in is worth $10,000. 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. Yes. In addition to the long-term federal capital gains tax rate of up to 20%, that can lead to a total long-term capital gains tax rate of 24.85% (and higher for short-term capital gains, which the federal government taxes as ordinary income). Doc fees can range anything from around $100 to $500+ depending on the state and where your dealer is located. Different requirements, fees, and taxes apply, depending on your vehicle type and other factors. Utah has a consumer protection law that mandates that each customer must pay the same amount for fees at a dealership. (function() { var qs,j,q,s,d=document, gi=d.getElementById, 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. IRA limits for 2023 have been escalated to $6,500, or your taxable income, for individuals under 50. Dealer fees and taxes. 2023 SalesTaxHandbook. j.dataset.calconic=true; The most you can pay in state sales taxes for a vehicle is $900. The Low-income Housing Credit is available to taxpayers who live in a low-income housing project. Hes written about dealership sales, vehicle reviews and comparisons, and service and maintenance for over 100 national automotive dealerships. If you were buying a Honda Rebel 300 in California at around $4,500 MSRP your bill might look something like this: 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. 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. 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. 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're making a down payment and financing, it should factor those in as well. The overall price will be lower, which means you will pay less in sales tax than with a new vehicle. https://www.autobytel.com/auto-news/buying-a-new-car-in-utah-107748/, https://www.salestaxhandbook.com/utah/sales-tax-vehicles, https://www.southtowneautomall.com/buy-a-new-car-in-utah.htm, http://www.salestaxstates.com/sales-tax-calculator-utah, .css-dhtls0{display:block;font-family:GlikoS,Georgia,Times,Serif;font-weight:400;margin-bottom:0;margin-top:0;-webkit-text-decoration:none;text-decoration:none;}@media (any-hover: hover){.css-dhtls0:hover{color:link-hover;}}@media(max-width: 48rem){.css-dhtls0{font-size:1.125rem;line-height:1.2;}}@media(min-width: 48rem){.css-dhtls0{font-size:1.25rem;line-height:1.2;}}@media(min-width: 61.25rem){.css-dhtls0{font-size:1.375rem;line-height:1.2;}}Levels of EV Charging, Electric Cars vs. Gas Cars: Pros and Cons. And of course, you always need to pay the government. For taxpayers who earn above the following income thresholds, the credit begins to phase out by 1.3% until its completely eliminated. For similar tax reasons, you may also want to utilize a health savings account (HSA) or flexible spending account (FSA). 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. You receive the vehicle as a gift from a spouse, parent, child, grandparent, or grandchild. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. Need an updated list of Utah sales tax rates for your business? Taxpayers can receive a credit of $100 per qualifying child. 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. For any trade-in, you'll pay sales tax on $5,000. The vehicle license tax is the most expensive, which we have calculated above for $100,000 worth of a new car ($1,680). 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. If your total itemized deductions are less than the standard deduction, the calculator will use the standard deduction. 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. How To Find The Cheapest Travel Insurance. As of 2020, the current county sales tax rates range from 0.25% to 2%. j.src=b+"calconic.min.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(j,q) } If youre ready to find an advisor who can help you achieve your financial goals, get started now. Oregon employs an easier fee system based on the RV's length. if(!gi.call(d,id)) { j=ce.call(d,"script"); j.id=id; j.type="text/javascript"; j.async=true; There are approximately 4.7 billion tons of dissolved salt in the Great Salt Lake. 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. Subscribe to our News and Updates to stay in the loop and on the road! Traveling with a Pet Soon? 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. Some dealerships may also charge a dealer documentation fee of 149 dollars. Youve done your research, youve picked out a bike you can afford, but what about those fees? 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. Thank you for your answer! . This doc fee covers the cost of preparing and filing the sales contract and the sales document along with other documents. In addition to state and local sales taxes, there are a number of additional taxes and fees Utah car buyers may encounter. You are negotiating on a car at the dealership when the salesperson finally gives you the good price you've wanted. Tax-Rates.org provides free access to tax rates, calculators, and more. That way, you know what youre really going to be paying. This credit phases out above a certain income level that's dependent on your filing status. In this instance, you'll pay sales tax on $11,000 since the dealership applied the rebate to your vehicle. Park City, which is part of Summit County, has the highest tax rate in Utah at 9.05%. Which Has the Lowest? Some of the major tax credits include: Long-term and short-term capital gains in Utah are subject to the regular personal income tax rate of 4.85%. Please change your search criteria and try again. 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. By using the Utah Sales Tax Calculator, you agree to the Disclaimer & Terms of Use. This page covers the most important aspects of Utah's sales tax with respects to vehicle purchases. - We regularly check for any updates to the latest tax rates and regulations. Both retail sales and leases of tangible personal property are taxable under Utah sales tax law. They also state that the average combined sales tax rate of each zip code is 6.775 percent. All investing involves risk, including loss of principal. SmartAsset does not review the ongoing performance of any Adviser, participate in the management of any users account by an Adviser or provide advice regarding specific investments. Its exciting to buy a new (or new for you) car, but its also far from cheap. Businesses shipping goods into Utah can look up their customer's tax rate by address or zip code at tap.utah.gov . Your employer does not match this surtax. Both regular and diesel gasoline in Utah are taxed at a rate of 31.90 cents per gallon. Unfortunately, we are currently unable to find savings account that fit your criteria. And maintenance for over 100 national automotive dealerships customer must pay the same amount for fees at a of... A fiduciary duty does not prevent the rise of potential conflicts of interest this doc fee covers the you... 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