What's new for credits?
Solar Energy Systems Phase-Out: The maximum Renewable Residential Energy Systems Credit for solar power systems installed in 2021 is $1200.
Social Security Benefits Tax Credit: The 2021 Utah Legislature passed HB 86, creating an apportionable nonrefundable tax credit for taxable Social Security Income.
Military Retirement Tax Credit: The 2021 Utah Legislature passed SB 11, creating an apportionable, nonrefundable tax credit for taxable military retirement and survivor benefits.
What's new for income additions?
Payroll Protection Program (PPP) Grant or Loan Addback: In certain situation, you must add the amount of PPP grants or loans forgiven in 2021 to your income.
For more information regarding these changes, please click here.