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AZ HB2677

Bill

Official Source

Status

Introduced

2/9/2023

Primary Sponsor

Steve Montenegro

Click for details

Origin

House of Representatives

Fifty-sixth Legislature - First Regular Session (2023)

AI Summary

  • Adds a new subtraction from Arizona gross income for distributions from individual retirement accounts under section 408 of the Internal Revenue Code and qualified retirement plans under section 401 of the Internal Revenue Code, to the extent not already excluded under federal law.

  • The subtraction applies only to the extent these retirement distributions are not already excluded from Arizona gross income under the Internal Revenue Code.

  • Effective for taxable years beginning on or after December 31, 2023.

Legislative Description

Income tax; subtraction; retirement distribution

Income Tax

Last Action

House read second time

2/13/2023

Committee Referrals

Rules2/9/2023
Ways and Means2/9/2023

Full Bill Text

No bill text available