SB 1294 - Tax Corrections Act of 2018

• Amends insurance premium tax provisions, including reducing tax rates for "other insurance" from 1.95% to 1.70% by 2021, and allows premium tax credits for certain insurers and health care organizations under specified sections.

• Modifies income tax provisions including adjustments to depreciation deductions, net operating loss carryforward periods (extended to 20 years for losses after 2011), and updates to personal exemption amounts effective 2017-2018.

• Corrects and clarifies various tax credit provisions including employment credits, research credits, and facility credits, while removing or repealing obsolete credit sections.

• Updates disclosure rules for tax confidential information to expand access to the Department of Education for verifying low-income student eligibility and clarifies provisions regarding online lodging marketplaces.

• Makes technical corrections and clarifications to transaction privilege tax, property tax, school tuition organization, and other tax provisions throughout Title 42 and Title 43 of Arizona Revised Statutes.