AZ HB2630

Adds a new subtraction (paragraph 33) to Arizona individual income tax for net capital gains derived from investment in small businesses in Arizona that employed fewer than 100 full-time employees or had gross annual receipts under $4 million in their last fiscal year.

Extends the same capital gain subtraction to corporations by amending section 43-1122 to include the new paragraph 33 in the list of allowable corporate subtractions.

Allows taxpayers to subtract capital gains from qualifying small business investments from their Arizona gross income when computing adjusted gross income.