Fiscal Note - State of Utah - 2012 General Session
SB0143 - Income Tax - Pass-through Entities
State Government (UCA 36-12-13(2)(b)):
By requiring withholding on certain entities, enactment of this bill increases one-time revenue to the Education Fund by $3,266,000 in FY 2013.
| State Budget Detail Table | FY 2012 | FY 2013 | FY 2014 |
| Revenue: | |||
| Education Fund, One-Time | $0 | $3,266,000 | $0 |
| Total Revenue | $0 | $3,266,000 | $0 |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | $3,266,000 | $0 |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | $3,266,000 | $0 |
Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill likely will not result in direct, measurable costs for local governments.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
By requiring certain individuals and businesses to pay income taxes quarterly, the bill will accelerate taxes due from affected individuals and businesses in FY 2013.
| 2/24/2012, 12:06:36 PM, Lead Analyst: Young, T./Attny: RLR | Office of the Legislative Fiscal Analyst |