AZ SB1260

Amends Arizona Revised Statutes Section 43-1711 to modify the income tax rate for Arizona small business taxpayers who elect to pay the small business tax.

Eliminates the 2.8% tax rate tier that was previously scheduled for taxable years beginning from and after December 31, 2022 through December 31, 2024.

Sets the tax rate at 2.5% for taxable years beginning from and after December 31, 2022, accelerating the reduction from the previous schedule.

Applies retroactively to taxable years beginning from and after December 31, 2022.

Approved by the Governor on April 18, 2023, and filed with the Office of the Secretary of State on April 18, 2023.