AZ HB2223

Amends Arizona Revised Statutes section 43-1111 to reduce the corporate income tax rate from 6.968% to 3.484% of net income.

The tax rate reduction applies to all Arizona taxable income of corporations not otherwise exempt under sections 43-1126 or 43-1201.

Maintains the minimum tax requirement of fifty dollars, whichever is greater than the calculated tax amount.

Applies retroactively to taxable years beginning after December 31, 2010.