AZ SB1206

Allows taxpayers engaged in food preparation or retail to subtract qualified contributions of surplus food to charitable organizations from Arizona taxable income beginning January 1, 2018.

Subtraction amount limited to the wholesale purchase price for raw ingredients or the most recent sales price for prepared products, whichever is greater.

Requires the donated food be used by the charitable organization in connection with its tax-exempt purpose and not transferred in exchange for money or services.

Requires the charitable organization to provide written statement confirming it will comply with the use and disposition requirements of the statute.

Applies the surplus food subtraction to both individual income tax (Section 43-1022) and corporate income tax (Section 43-1122).