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AZ HB2288

Bill

Official Source

Status

Introduced

1/20/2026

Primary Sponsor

Justin Olson

Click for details

Origin

House of Representatives

Fifty-seventh Legislature - Second Regular Session (2026)

AI Summary

  • Allows corporations to subtract dividend income from foreign corporations when calculating Arizona taxable income
  • Expands the definition of foreign dividends to include "net controlled foreign corporation tested income" as defined in section 951A of the Internal Revenue Code
  • Foreign dividends already include gross up income under IRC section 78, global intangible low-taxed income (GILTI), and subpart F income
  • Amends section 43-1122 of the Arizona Revised Statutes relating to corporate income tax subtractions
  • Introduced by Representative Olson during the 57th Legislature, Second Regular Session (2026)

Legislative Description

Income tax; subtraction; foreign dividends

Last Action

House read second time

1/21/2026

Committee Referrals

Rules1/20/2026
Ways and Means1/20/2026

Full Bill Text

No bill text available