Lost job and looking to cash out 401k, there is about 70k in it. What is that tax implications between taking it out now or waiting until after dec 31? Age 55. Utah.

The better time for the withdrawal is the year you expect to have the less income. . 

It will be taxable and a 10% Early Withdrawal Penalty since you are under 59 1/2.  Doesn't matter what year.  But yes take it out the year you expect to have the less income.  Or there isn't a early penalty if you stopped working there and you are 55 or older, so you might avoid the 10% penalty.