AZ HB2014

Adds net capital losses from exchanging one kind of legal tender for another kind of legal tender to Arizona gross income for individuals beginning December 31, 2017 (section 43-1021, paragraph 23).

Allows subtraction of net capital gains from legal tender exchanges from Arizona gross income for individuals beginning December 31, 2017, with "legal tender" defined as any medium of exchange authorized by the U.S. Constitution or Congress, including specie (coins with precious metal content) (section 43-1022, paragraph 32).

Applies the same legal tender exchange treatment to corporations by adding net capital losses and allowing subtraction of net capital gains from legal tender exchanges beginning December 31, 2017 (sections 43-1121, paragraph 29 and 43-1122, paragraph 25).

Defines "specie" as coins having precious metal content for purposes of all legal tender exchange provisions.