AZ HB2438

Adds section 43-242 to Arizona Revised Statutes regarding income taxation of organizational changes.

Declares that a change in organizational structure of a corporation, S corporation, limited liability company, partnership, or other entity is not a taxable event under Arizona law.

Applies only when there is no change in the owners, their ownership interests, or the assets of the organization.

Overrides any conflicting provisions of the Internal Revenue Code or federal rules and regulations for purposes of Arizona state taxation.