Loading chat...

AZ HB2440

Bill

Official Source

Status

Introduced

1/17/2024

Primary Sponsor

Steve Montenegro

Click for details

Origin

House of Representatives

Fifty-sixth Legislature - Second Regular Session (2024)

AI Summary

  • Amends Arizona Revised Statutes Section 43-1022 to add a new subtraction (paragraph 31) allowing individuals to exclude distributions from individual retirement accounts (IRAs) under IRC Section 408 and qualified retirement plans under IRC Section 401 from Arizona gross income.

  • The subtraction applies to the extent these retirement distributions are not already excluded from Arizona gross income under the internal revenue code.

  • Applies to taxable years beginning on or after January 1, 2025.

Legislative Description

Income tax; subtraction; retirement distribution

Income Tax

Last Action

House read second time

1/22/2024

Committee Referrals

Rules1/17/2024
Ways and Means1/17/2024

Full Bill Text

No bill text available