The Utah State Tax Commission recently published an updated version of Publication 58, Utah Interest and Penalties. This publication contains information and instruction relating to how interest rates and penalties are applied to certain tax types including withholding tax and information return filing.
The publication remains largely unchanged except for the addition of the interest rate on taxes and fees for calendar year 2021. For the 2021 calendar year, the applicable rate will drop to 2%, down from 4% in calendar year 2020.
To review this publication in its entirety, please click here to visit the State Tax Commission’s website.