AZ SB1332

Amends Arizona Revised Statutes section 43-1201 to add in-state financial institutions to the list of organizations exempt from state income tax.

Defines eligible institutions as those meeting the definition of "in-state financial institutions" under section 6-101 with home offices located in Arizona.

Exemption applies to taxable years beginning after December 31, 2010.

Maintains all existing tax exemptions for other organizations including nonprofits, religious organizations, insurance companies, and workers' compensation pools.