Multistate Tax Alert: Arizona Phases-In Corporate Income Tax Rate Reduction and Single Sales Factor Apportionment |
On February 17, 2011, Arizona Governor Brewer signed Laws 2011, Ch. 1, 2nd Special Session (H.B. 2001), which includes the following modifications to Arizona law:
- Starting in tax year 2014, a four year phase-in of corporate income tax rate reductions
- Starting in tax year 2014, a four year phase-in of a single sales factor apportionment election
- A new employment credit
- The extension of Arizona's small business tax credit
- An incremental addition to the Arizona research credit for university-related research
- A subtraction for net capital gains incurred by individuals from investment in qualified small businesses
In the attached Tax Alert we summarize these changes.
Multistate Tax Alert: Arizona Phases-In Corporate Income Tax Rate Reduction and Single Sales Factor Apportionment
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