SB 1473 Summary

• Repeals section 43-1094 and replaces it with a new provision requiring nonresident taxpayers' Arizona income tax to equal the resident tax rate multiplied by a fraction of in-state income divided by total gross income, effective for taxable years beginning after December 31, 2021.

• Amends section 43-301 to allow nonresident individuals to file Arizona tax returns if their gross income exceeds the standard deduction threshold, eliminating the previous separate calculation method for nonresidents.

• Repeals sections 43-1095, 43-1097, and 43-1098 related to nonresident income taxation calculations.

• Modifies section 43-1096 to update the credit for income taxes paid by nonresidents to other states or countries, referencing the revised tax computation method in the new section 43-1094.

• Applies retroactively to taxable years beginning after December 31, 2020.