Multistate Tax Alert: Several Arizona Modifications |
The State of Arizona has recently adopted House Bill 2815, which includes the following modifications to Arizona law:
- Beginning with corporate net operating losses arising in tax year 2012, increases the carryover period to 20 years
- Starting in tax year 2014, allows a bonus depreciation deduction for individuals
- Starting in tax year 2013, allows a long-term capital gains deduction for individuals
- Beginning in tax year 2012 and applicable through tax year 2019, adopts a new individual and corporate income tax credit for investment in qualified facilities
- Establishes investment timeframes and additional employment requirements for the individual and corporate tax credit for new employment that was adopted in 2011
We summarize these changes in the attached Tax Alert.
Multistate Tax Alert: Several Arizona modifications
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