AZ SB1484

Amends the definition of "internal revenue code" in Arizona Revised Statutes Section 42-1001 to reference the federal Internal Revenue Code as amended and in effect as of January 1, 2021, instead of January 1, 2020.

Updates Section 43-105 to add a new subsection A establishing that for taxable years beginning after December 31, 2020, Arizona's income tax computations conform to the federal Internal Revenue Code as of January 1, 2021.

Modifies the existing subsection for taxable years 2019-2020 to include provisions from the Coronavirus Aid, Relief, and Economic Security Act (P.L. 116-136), the Paycheck Protection Program Flexibility Act of 2020 (P.L. 116-142), and the Consolidated Appropriations Act, 2021 (P.L. 117-___) that have retroactive effective dates.

Adds references to the same three federal relief acts to multiple prior taxable year periods (2018-2019, 2017-2018, 2016-2017, 2015-2016, 2014-2015, 2013-2014, and 2012-2013) to allow retroactive application of their provisions during those years.

Updates Arizona's tax code conformity timeline to align with the most recent federal tax law changes through 2021.