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AZ HB2902
Bill
Status
Introduced
2/17/2025
Primary Sponsor
Lorena Austin
Click for details
AI Summary
- Amends Arizona corporate income tax law to add a minimum tax of $1,000 for corporations with 50 or more employees that are not otherwise exempt from taxation.
- Maintains existing corporate tax rates ranging from 4.9 percent to 6.968 percent of net income depending on the taxable year, with a minimum tax of $50 or the calculated amount, whichever is greater.
- Applies to taxable years beginning after December 31, 2025.
- Requires approval by at least two-thirds vote of both chambers of the legislature and takes effect immediately upon the governor's signature or with three-fourths vote if vetoed.
Legislative Description
Corporate income tax; minimum
Taxation Of Income - Title 43
Last Action
House read second time
2/18/2025
Committee Referrals
Rules2/17/2025
Appropriations2/17/2025
Ways and Means2/17/2025
Full Bill Text
No bill text available