AZ SB1107

Amends Arizona Revised Statutes section 43-1021 to add a new provision requiring individual income tax adjustment for taxpayers with net worth exceeding $50,000.

Requires taxpayers with net worth over $50,000 as of December 31 to add one percent of their net worth to Arizona gross income for that taxable year.

Excludes the value of real property owned and occupied by the taxpayer as their primary residence from the net worth calculation.

Effective for taxable years beginning after December 31, 2021.