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AZ SB1204
Bill
Status
Introduced
1/19/2021
Primary Sponsor
Juan Mendez
Click for details
AI Summary
- Amends Arizona tax code section 43-1111 to establish a minimum corporate income tax of $1,000 for corporations with 50 or more employees.
- Maintains existing graduated corporate income tax rates ranging from 4.9% to 6.968% of net income depending on the taxable year, with a minimum tax of $50 for all other corporations.
- Applies to taxable years beginning after December 31, 2021.
- Requires a two-thirds affirmative vote in both houses of the legislature to pass and becomes effective immediately upon the governor's signature.
Legislative Description
Corporate income tax; minimum
Rfe
Last Action
Senate read second time
1/20/2021
Committee Referrals
Rules1/20/2021
Finance1/19/2021
Full Bill Text
No bill text available