Utah Sales Tax Collections, 1933-2017 $3,000 Millions $2,500 - - PowerPoint PPT Presentation

▶

Feb 07, 2023 331 likes •392 views

Utah Sales Tax Collections, 1933-2017 $3,000 Millions $2,500 $2,000 $1,500 $1,000 $500 $0 1933 1935 1937 1939 1941 1943 1945 1947 1949 1951 1953 1955 1957 1959 1961 1963 1965 1967 1969 1971 1973 1975 1977 1979 1981

SLIDE 1

Utah Sales Tax Collections, 1933-2017

$0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 1933 1935 1937 1939 1941 1943 1945 1947 1949 1951 1953 1955 1957 1959 1961 1963 1965 1967 1969 1971 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017

Millions

Sales Tax Source: History of the Utah Tax Structure, Utah Tax Commission; https://tax.utah.gov/esu/history/history.pdf ; p. 9-10; published Dec. 2018; accessed May 2019.

SLIDE 2

Economy, Income, Consumption, and Taxable Sales

$0 $20 $40 $60 $80 $100 $120 $140 $160 $180 1933 1935 1937 1939 1941 1943 1945 1947 1949 1951 1953 1955 1957 1959 1961 1963 1965 1967 1969 1971 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017

Billions

Sales Tax Base Personal Consumption Expenditure (nominal) Personal Income Utah GDP

Sources: GDP, Personal Income & Consumption: U.S. Bureau of Economic Analysis; https://apps.bea.gov/iTable/iTable.cfm?acrdn=4&isuri=1&reqid=70&step=1#reqid=70&step=1&isuri=1; accessed May 2019. Sales Tax Base: History of the Utah Tax Structure; Utah Tax Commission; https://tax.utah.gov/esu/history/history.pdf ; p. 9-10; published Dec. 2018; accessed May 2019.

SLIDE 3

Utah Income and Sales Tax Collections 1933-2017

$0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 1933 1935 1937 1939 1941 1943 1945 1947 1949 1951 1953 1955 1957 1959 1961 1963 1965 1967 1969 1971 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017

Millions

Sales Tax Income Tax Source: History of the Utah Tax Structure; Utah Tax Commission; https://tax.utah.gov/esu/history/history.pdf ; p. 9-10, 166-167; published Dec. 2018; accessed May 2019.

SLIDE 4

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% FY97 FY98 FY99 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 Gov FY20 Gov

GF/EF Funding Mix, HED Operations

General Fund Education Fund

HED Budget Shifts Under Governor’s FY 2020 Budget Proposal

Source: Governor’s Office of Management and Budget.

SLIDE 5

HED Budget Shifts Under 2019 GS Budget (incl. HB 3)

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

GF/EF Funding Mix, HED Operations

General Fund Education Fund Sources: FY 1997-2018: Governor’s Office of Management and Budget. FY 2019-2020: Compendium of Budget Information; Office of the Legislative Fiscal Analyst; https://cobi.Utah.gov; accessed May 2019.