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Debt Consolidation in Utah

Utah MapIn a recent report from the U.S Census Bureau, it was suggested that Utah has the second fastest growing population out of all of the states in America and a flourishing economy to match. Unfortunately, this increase in population and economy doesnít mean that the residents of Utah are free from personal debt, and in fact levels of consumer debt remain as prevalent today as ever. The recession is largely to blame with the sudden and unexpected financial crisis having an ongoing and long-term affect on the majority of typical Utah households.

Statistics provided by USA Today suggest that the average personal debt in Utah is actually higher than the national average at $62,969. This is nearly $10,000 above the American norm, but the significant difference is balanced out somewhat by higher than standard household incomes. A large percentage of this figure is likely to be the mortgage and according to the same source, the median price of a home in Utah is $202, 616. Naturally, a mortgage isnít the only way in which residents of Utah borrow money and credit card debt, student loans and auto loans also play a significant part. Combining all borrowed money through debt consolidation has been a popular method of regaining control over monthly repayments since the recession and continues to be widely beneficial today.

The economy of Utah is fairly diverse with a number of varying industries contributing to the GSP and wealth of the state. Tourism is a huge industry in Utah and is particularly popular for its recreational outdoor activities. The state is home to five impressive national parks and seven national monuments, all of which have a great deal to offer tourists and local residents alike. Outdoor sports and activities are abundant throughout the year with winter sports including skiing and snowboarding and summer sports such as camping, hiking and mountain biking. Mining and farming also play essential roles in the regions economy with the bulk of agricultural income coming from livestock.

 

Lawmakers approve $30 million child tax credit for Utah families in special session

SALT LAKE CITY - Lawmakers approved giving Utah families a $30 million break on their state income taxes starting next year, a last-minute addition to Wednesday's special session agenda. The details o...

Published:  Thu, 19 Jul 2018 04:34:00 GMT



Utah lawmakers turned down a tax cut for big families in March. On Wednesday they passed a $30M reduction during their one-day special session.

Utah lawmakers voted overwhelmingly for a $30 million tax cut Wednesday in the form of an increased child tax credit for families. The state tax cut is intended to soften the blow of recent federal ta...

Published:  Thu, 19 Jul 2018 04:32:00 GMT



Utah Legislature passes requirement for online sales tax

Utah lawmakers on Wednesday passed legislation forcing online companies to collect sales tax beginning in 2019, although much of the new revenue has already been earmarked for a tax break for manufact...

Published:  Wed, 18 Jul 2018 17:20:00 GMT



State legislature passes child tax credit

"I think it's really some of the biggest news that came out of the session yesterday. It is a $30 million tax cut for Utah families, and equates to about a $34 tax credit per child," said Representati...

Published:  Thu, 19 Jul 2018 13:21:00 GMT



Get ready to start paying taxes on your online purchases, Utah

SALT LAKE CITY -- Governor Gary Herbert may call a special session next week that could include a fast-tracked bill to allow the state to collect online sales tax. Rep. Steve Eliason, R-Sandy, made th...

Published:  Thu, 12 Jul 2018 12:33:00 GMT



Utah Legislature makes tax credit for large families

SALT LAKE CITY (AP) - Utah lawmakers have approved a tax change they say will help protect large families who might otherwise be adversely impacted by federal tax reform. Supporters said the $30 milli...

Published:  Thu, 19 Jul 2018 10:09:00 GMT



Utah legislative leaders plan to add child tax credit to special session agenda

SALT LAKE CITY - Legislative leaders are planning a last-minute addition to Wednesday's special session agenda that would set aside $22 million to give Utahns with children a break on their state inco...

Published:  Wed, 18 Jul 2018 01:59:00 GMT



Online Sales Tax Decision Could Give Utah Another $60M

SALT LAKE CITY (AP) - Utah could collect another $60 million in online sales tax revenue after a key U.S. Supreme Court decision, but most of that money is expected go to an already promised tax break ...

Published:  Thu, 12 Jul 2018 11:08:00 GMT



Utah lawmakers to consider online sales tax, shipping hub

Utah lawmakers plan to meet for a special session to consider forcing some online companies to collect sales tax and to eye proposed changes to a planned shipping hub in Salt Lake City SALT LAKE CITY ...

Published:  Wed, 18 Jul 2018 11:20:00 GMT



Big Utah families, the legislature is giving you about $175 in a child tax credit

SALT LAKE CITY - Family of seven You could see a little bit of money coming back to you in the form of a child tax credit. The Utah State Legislature voted to spend $30 million for an exemption that ...

Published:  Wed, 18 Jul 2018 18:39:00 GMT



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