AZ SB1415

Amends Arizona Revised Statutes section 43-1111 to establish a corporate minimum income tax of $500 or the calculated tax based on net income, whichever is greater.

Maintains existing corporate income tax rates: 6.968% (through 2013), 6.5% (2014), 6.0% (2015), 5.5% (2016), and 4.9% (2017 onward) of net income.

Applies to taxable years beginning after December 31, 2018.

Requires approval by two-thirds vote of both houses of the legislature and the governor's signature to take effect.