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Show ! Taxable income i averages near ! S6000 in state ! Only about one out of every ten persons filing a Federal income in-come tax return in Utah for 1963 reported taxable income in excess of $6,000 and approximately approx-imately one out of every 35 persons had taxable income of i more than $10,000. These were some of the facts I disclosed in a Utah Foundation i analysis of Federal income tax 1 returns for the 1963 tax year. The data used were obtained j from a statistical summary of 1963 returns recently published by the U.S. Internal Revenue Service. The report shows that the average taxable income per return re-turn in Utah for 1963 was $2, 849. This compares with average av-erage taxable income of $2,984 for the eight Mountain States, $3,585 for the eleven Western States, and $3,270 for the nation na-tion as a whole. Larger families Foundation analysts point out that "a contributing factor to the lower than average taxable tax-able income in Utah was that Utahns generally have larger families and more personal exemptions ex-emptions than other states." There was an average of 3.18 exemptions per return in Utah, compared with 3.01 in the Mountain States, 2.88 in the Western States, and 2.87 in the United States. According to the study, the average gross income reported on the 1963 tax returns was $5,595 in Utah, $5,495 in the eight Mountain States, $6,250 for the eleven Western States, and $5,766 for the fifty states of the union. The Utah Foundation analysis anal-ysis observes that because of the greater number of exemptions exemp-tions and the generally higher personal deductions, the average av-erage taxable income and the actual tax liability in Utah is below regional and national averages. av-erages. For the 1963 tax year, the average Federal income tax per return was $623 in Utah, $670 in the Mountain States, $821 in the Western States, and $754 in the U.S. as a whole. The study notes that the 1963 tax liability was based on the old rates before the 1964 Federal income tax rate reductions went into effect. ef-fect. When sheets become worn in the centers, use the outsides to make pillow cases. Trim them with pretty borders made on the zig-zag machine attachment. |