AZ HB2296

Amends Arizona Revised Statutes section 43-1111 to increase the corporate income tax rate for taxable years beginning after December 31, 2019, from 4.9 percent to 5.5 percent of net income.

Maintains the existing minimum tax of $50 for all corporations unless otherwise exempt under Arizona law.

Requires an affirmative vote of at least two-thirds of the members in each house of the legislature for passage, per Arizona Constitution article IX, section 22.

Takes effect immediately upon the governor's signature or, if vetoed, upon an affirmative vote of at least three-fourths of the members in each house.