summary
Introduced
01/24/2022
01/24/2022
In Committee
Crossed Over
Passed
Dead
06/25/2022
06/25/2022
Introduced Session
Fifty-fifth Legislature - Second Regular Session (2022)
Bill Summary
Income tax; rates; reduction
AI Summary
This bill proposes to reduce Arizona's individual income tax rates. Specifically, it would set the tax rate at 2.5% for taxable years beginning after December 31, 2021 through December 31, 2022, and then further reduce the rate to 1.5% for taxable years beginning after December 31, 2022 and thereafter. The bill also reduces the tax rates for estates, trusts, and Arizona small businesses. The tax rate changes would apply retroactively to taxable years beginning after December 31, 2021.
Committee Categories
Budget and Finance
Sponsors (11)
Jake Hoffman (R)*,
Brenda Barton (R),
Walter Blackman (R),
Judy Burges (R),
Neal Carter (R),
Joseph Chaplik (R),
John Fillmore (R),
John Kavanagh (R),
Quang Nguyen (R),
Jacqueline Parker (R),
Beverly Pingerelli (R),
Last Action
House read second time (on 01/25/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://apps.azleg.gov/BillStatus/BillOverview/77016 |
| Fiscal Note - FISCAL NOTE: As Introduced | https://apps.azleg.gov/BillStatus/GetDocumentPdf/494552 |
| BillText | https://www.azleg.gov/legtext/55leg/2r/bills/hb2497p.htm |
| Bill | https://www.azleg.gov/legtext/55leg/2r/bills/hb2497p.pdf |
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