Updated March 29, 2026
Capital Gains: 4.5% (flat, as ordinary income)Income Tax: 4.5% (flat rate)Tax Summary
Utah treats cryptocurrency as property following federal IRS rules. Capital gains and crypto income are taxed at the flat state income tax rate of 4.5%. No unique state-level crypto taxes or exemptions apply.
Quick facts for Utah, United States
Capital Gains Tax
4.5% (flat, as ordinary income)Income Tax Rate
4.5% (flat rate)Capital Gains Tax
4.5% (flat, as ordinary income)• Crypto classified as capital asset per federal rules (short-term <1 year, long-term >1 year).
• All gains taxed as ordinary income at 4.5%; no preferential long-term rate.
• No Utah-specific exemptions or thresholds for crypto gains.
• Conforms to federal basis, holding period, and wash sale rules (no wash for crypto federally).
• All gains taxed as ordinary income at 4.5%; no preferential long-term rate.
• No Utah-specific exemptions or thresholds for crypto gains.
• Conforms to federal basis, holding period, and wash sale rules (no wash for crypto federally).
Income Tax
4.5% (flat rate)• Mining rewards taxed as ordinary income at FMV on receipt date.
• Staking rewards taxed as ordinary income at FMV when received or credited.
• Airdrops, forks taxed as income per federal guidance.
• No state-specific deviations from federal income rules.
• Staking rewards taxed as ordinary income at FMV when received or credited.
• Airdrops, forks taxed as income per federal guidance.
• No state-specific deviations from federal income rules.
Reporting Requirements
• Report crypto via federal returns; Utah starts with federal taxable income (Form 1040).
• File Utah TC-40 if UT income exceeds filing thresholds or federal return required.
• Include Schedule A for itemized if applicable; no crypto-specific state form.
• Deadline: April 15 (extensions to October 15 match federal).
• File Utah TC-40 if UT income exceeds filing thresholds or federal return required.
• Include Schedule A for itemized if applicable; no crypto-specific state form.
• Deadline: April 15 (extensions to October 15 match federal).
Special Notes
• Utah conforms to IRC for crypto classification unless decoupled.
• Flat rate reduced to 4.5% for TY2025 (from 4.55% in 2024).
• Crypto-friendly state with blockchain laws; no local income taxes.
• 1099-DA federal reporting starts 2026, indirectly affects state via federal AGI.
• Flat rate reduced to 4.5% for TY2025 (from 4.55% in 2024).
• Crypto-friendly state with blockchain laws; no local income taxes.
• 1099-DA federal reporting starts 2026, indirectly affects state via federal AGI.
Other US States
Compare state-level crypto tax differences across the United States.
Alabama
CG: 2%-5%Income: 2%-5%
Alaska
CG: 0%Income: 0%
Arizona
CG: 2.5%Income: 2.5%
Arkansas
CG: 0% - 3.9%Income: 0% - 3.9%
California
CG: 1%-13.3% (ordinary income rates)Income: 1%-13.3% (ordinary income rates)
Colorado
CG: 4.4%Income: 4.4%
Connecticut
CG: 2%-6.99% (taxed as ordinary income)Income: 2%-6.99%
Delaware
CG: 2.2%-6.6%Income: 2.2%-6.6%
District of Columbia
CG: 4-10.75% (taxed as ordinary income)Income: 4-10.75%
Florida
CG: 0%Income: 0%
Georgia
CG: 5.19% (taxed as ordinary income)Income: 5.19% (flat rate)
Hawaii
CG: 7.25% (elective on net capital gains); short-term: 1.4%-11%Income: 1.4%-11%
Idaho
CG: 0% up to $4,811 (single) / $9,622 (married); 5.3% thereafterIncome: 0% up to $4,811 (single) / $9,622 (married); 5.3% thereafter
Illinois
CG: 4.95%Income: 4.95%
Indiana
CG: 2.95% state + 0.5%-3% county (varies by location)<argumentIncome: 2.95% state + 0.5%-3% county (varies by location)<argument
Iowa
CG: 3.8% (flat rate, taxed as ordinary income)Income: 3.8% (flat rate)
Kansas
CG: 5.2% - 5.58%Income: 5.2% - 5.58%
Kentucky
CG: 3.5% (flat rate)Income: 3.5% (flat rate)
Louisiana
CG: 3%Income: 3%
Maine
CG: 5.8%-7.15%Income: 5.8%-7.15%
Maryland
CG: 2%-6.5% state + 2.25%-3.3% local + 2% surtax on net gains (FAGI > $350k)<grok:render type="render_inlIncome: 2%-6.5% state + 2.25%-3.3% local
Massachusetts
CG: 5% (long-term), 8.5% (short-term)Income: 5% flat + 4% surtax over $1,083,150
Michigan
CG: 4.25%Income: 4.25%
Minnesota
CG: 5.35%-9.85%; +1% on net investment income over $1MIncome: 5.35%-9.85%
Mississippi
CG: 4.4%Income: 4.4%
Missouri
CG: 0%Income: 0-4.7%
Montana
CG: Short-term: 4.7%-5.65%; Long-term: 3%-4.1%Income: 4.7%-5.65%
Nebraska
CG: 2.46%-5.20% (tax year 2025); top rate 4.55% (2026)Income: 2.46%-5.20% (tax year 2025); top rate 4.55% (2026)
Nevada
CG: 0%Income: 0%
New Hampshire
CG: 0%Income: 0%
New Jersey
CG: 1.4%-10.75% (taxed as ordinary income)Income: 1.4%-10.75%
New Mexico
CG: 1.5% - 5.9% (with deduction)Income: 1.5% - 5.9%
New York
CG: 4%-10.9% (state ordinary income rates); +3.078%-3.876% NYCIncome: 4%-10.9% (state ordinary income rates); +3.078%-3.876% NYC
North Carolina
CG: 4.25% (TY 2025); 3.99% (TY 2026)Income: 4.25% (TY 2025); 3.99% (TY 2026)
North Dakota
CG: Short-term: 1.95%-2.5%; Long-term: effective 1.17%-1.5% (after 40% exclusion)Income: 1.95%-2.5%
Ohio
CG: 0%-3.125%Income: 0%-3.125%
Oklahoma
CG: 0.25% - 4.5%Income: 0.25% - 4.5%
Oregon
CG: 4.75%-9.9% (taxed as ordinary income)Income: 4.75%-9.9%
Pennsylvania
CG: 3.07%Income: 3.07%
Rhode Island
CG: 3.75%-5.99%Income: 3.75%-5.99%
South Carolina
CG: 0%-6% (44% deduction on net LTCG)Income: 0%-6%
South Dakota
CG: 0%Income: 0%
Tennessee
CG: 0%Income: 0%
Texas
CG: 0%Income: 0%
Vermont
CG: 3.35%-8.75% (taxed as ordinary income)Income: 3.35%-8.75%
Virginia
CG: 2%-5.75%Income: 2%-5.75%
Washington
CG: 7%Income: 0%
West Virginia
CG: 2.22%-4.82%Income: 2.22%-4.82%
Wisconsin
CG: 3.50%-7.65% (30% deduction for long-term gains)Income: 3.50%-7.65%
Wyoming
CG: 0%Income: 0%
Utah Crypto Tax FAQ
Is cryptocurrency taxed in Utah?
Utah treats cryptocurrency as property following federal IRS rules. Capital gains and crypto income are taxed at the flat state income tax rate of 4.5%. No unique state-level crypto taxes or exemptions apply.
What is the crypto capital gains tax rate in Utah?
The state-level capital gains treatment in Utah is currently listed as 4.5% (flat, as ordinary income).
How do I report crypto taxes in Utah?
• Report crypto via federal returns; Utah starts with federal taxable income (Form 1040).
Compare With Other Countries
Disclaimer: This information is AI-generated and for educational purposes only. Tax laws are complex and subject to change. Always consult with a qualified tax professional for advice specific to your situation.