Resource Center

Utah Tax Reform Bill to be Repealed

Jan 25, 2020 8:30:00 AM

Several weeks ago, Avantguard published an article that went into detail describing the new Utah Food Tax bill and its possible effect on the security industry. Then, several days ago, we went on to publish an article on what you could do to help stop this bill. Well, all of your effort has paid off.

The Bill

SB 2001 overall looks great on paper. It lowers income tax from 4.95% to 4.66% and provides various tax credits when it comes to Social Security, dependent exemptions, and for those experiencing intergenerational poverty. However, this comes at a cost. It would raise the taxes tremendously on unprepared foods, gasoline, pet services, transportation services, security monitoring, etc.

The Petition

A citizen referendum was filed challenging the tax reform bill with the goal of pausing SB 2001 until the people can vote on it in November. The group that filed the referendum had 40 days to collect at least 115,869 verified signatures to place the bill on November’s ballot.

Needless to say, Utahns’ surpassed this goal and collected a whopping 132,000 signatures. Without these signatures, “Utahns would have seen a disproportionate impact on low-income families and households that have fixed incomes,” states Utahns Against Hunger executive director Gina Cornia.

What’s Next

While we expected to see this bill again in November, it seems as if Utah legislators received our message. These legislators, including Governor Gary Herbert, House Speaker Brad Wilson and Senate President Stuart Adams have agreed to fully repeal the controversial tax bill.

Cases like this show just how strong the American people can be. For a company that stands by you, as well as keeps you informed, Avantguard is your best option. Reach out to us today to see how we can help you, your family and your community.

Take advantage of our robust library of industry and AG related news, articles, webinars and other resources available through our resource center to enhance your success.  You will also discover valuable insights and content you can share with your subscribers through your website, newsletters, and emails.

Receive more useful content like this by signing up for our weekly AG Newsletter below: