From Deseret News archives:
Deductions are likely in tax plan
Huntsman reportedly has adjusted reform package
Sources say the governor made charitable contribution allowances part of his reform plan after his private conversations with LDS Church leaders failed to weaken their opposition to removing such contributions from the current state income tax code.
Whether those will be partial or full allowances are among the details the governor has shared with only a few lawmakers, even though his group of experts has twice postponed appearances and are scheduled again today before the Tax Reform Task Force.
Huntsman's reform proposal includes a "flatter" income tax rate of between 5 percent and 5.9 percent, other sources said. The current top state income tax rate is 7 percent, which nearly all Utahns pay.
The governor, who spent much of Tuesday finalizing his tax plan, would only say that he was looking at taking the rate "two turns down" from 7 percent while helping low-income Utahns and maintaining some level of deductibility.
Gary Cornia, a Brigham Young University business professor and one of three tax experts in Huntsman's so-called tax reform "brain trust," said Tuesday if all goes as planned, he and several other Huntsman advisers will present a plan that the governor believes is a "fairer and flatter" tax than is currently used. Cornia declined to be more specific.
Cornia was also a key member of former Gov. Olene Walker's tax reform panel, which ended up recommending two alternatives last December: a true flat-rate tax with no deductions and a flatter tax that kept deductions.
"One of the big differences in our work (with Huntsman) is that we have a full year more of income tax data to study and work with," said Cornia, through a confidentiality waiver signed with the Tax Commission. It allows access to all personal income tax returns in the state "without any names attached," Cornia said.
That allows Huntsman to know how his plan will affect all classes of people single, married, married with dependent children, those taking care of older dependents in their homes, those itemizing, those taking standard deductions and so on.
Comments
- Aggies look to Idaho for an example 8:50 p.m.
- Wildcats face tough defense 8:46 p.m.
- BYU football: 5 keys to victory 8:36 p.m.
- RSL's Movsisyan departs 8:16 p.m.
- Vegas, Poinsettia bowls or bust 8:13 p.m.
- Woman falls near Angel's Landing 7:58 p.m.
- People on the move 7:54 p.m.
- Salt Lake meeting and conventions 7:52 p.m.
- Signs of life on Black Friday 7:51 p.m.
- Fears ease despite debt crisis 7:50 p.m.
- BYU would like friendlier rivalry
263 - Protests against Phoenix LDS temple
211 - RSL wins MLS Cup on penalty kicks
202 - Thunder rolls by Jazz
136 - Letters: Rushing to judge Palin
133 - Boys basketball rankings
127 - Editorial: Poor welcome for Palin
112 - Man trapped in Nutty Putty cave dies
107 - Hall, Johnson matchup key
102 - Letters: Trump card for believers
92
I wanted to tell them not to go. I dropped subtle hints. "My money is on...
When I was a kid, I worshipped my grandpa. He was undoubtedly my hero....
Yewts are going to get owned tomorrow!! There's been an unusual silence from...
This judgement leads me to believe that her behavior is almost acceptable....
Great work Colleen. As a Boise fan, I would like to wish both BYU and Utah...
The cave was closed once before. It should be closed again, permanently. It's...
RE: Re: Past, Present and Future | 6:42 p.m. Nov. 27, 2009 Everyone knows...
my condolences to the family . it was an unfortunate tragedy . caves...
Wanna bet?
...you couldn't be more wrong. BYU 31 utah 17
A very sad day. May God provide comfort for your family and friends, and...
i knew john and his wife and they are amazing people!i'm still in shock with...



You can be the first to comment on this story.