AZ HCR2012

Proposes submission to voters of a measure reducing Arizona income tax rates for individuals, estates, trusts, and small businesses over a multi-year period beginning in 2022.

For individual taxpayers: reduces income tax to a flat 2.5% for tax years 2022-2026, then to a flat 2% for tax years 2027 and beyond.

For estates and trusts: reduces income tax to a flat 2.5% for tax years 2022-2026, then to a flat 2% for tax years 2027 and beyond.

For Arizona small business taxpayers: reduces income tax to 2.5% for tax years 2022-2026, then to 2% for tax years 2027 and beyond.

Requires the Secretary of State to submit the proposition to voters at the next general election.