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Most would admit things are out of whack when it costs a government entity more to collect a tax than it receives in actual revenue. That's a quandary facing counties and many small businesses across Utah.
The small businesses are required to pay tax on certain tangible property - for example a copier or fax machine, or even a set of mechanics tools. In many instances, though, the tax generated is less than the administrative costs of collecting it.
Small businesses are burdened with extraneous paperwork and unwanted costs, as governments needlessly spin their bureaucratic wheels.
Utah voters can help remedy the quandary November 7 by approving Constitutional Amendment Number 1. It would allow the legislature "to create by statute a property tax exemption for tangible personal property that generates an inconsequential amount of revenue."
Anticipating passage of the amendment, the legislature has already passed a bill that sets that tangible personal property tax exemption at $3,500. The exemption will take effect January 1, 2007, but only if voters approve Constitutional Amendment Number 1.
In KSL's view, passage of Constitutional Amendment Number 1 offers a common sense solution to one of those illogical little governmental burdens we'd all like to see eliminated. We urge you to vote "FOR" Constitutional Amendment Number 1.
