summary
Introduced
01/27/2025
01/27/2025
In Committee
02/10/2025
02/10/2025
Crossed Over
Passed
Dead
06/27/2025
06/27/2025
Introduced Session
Fifty-seventh Legislature - First Regular Session (2025)
Bill Summary
AN ACT Amending sections 42-1001 and 43-105, Arizona Revised Statutes; relating to taxation.
AI Summary
This bill updates Arizona's tax code definitions and provisions related to the Internal Revenue Code (IRC) for various tax years. Specifically, it modifies two key sections of Arizona Revised Statutes: Section 42-1001 and Section 43-105. The primary change is updating the reference date for the IRC from January 1, 2024 to January 1, 2025, which means Arizona will conform to the federal tax code as it existed on January 1, 2025, including provisions that became effective during 2024. The bill also maintains a detailed historical record of how the IRC has been defined for tax years dating back to 2014, ensuring that retroactive changes and specific legislative acts (such as the CHIPS Act, Inflation Reduction Act, and various appropriations acts) are incorporated into Arizona's tax calculations. These modifications help ensure alignment between Arizona's state tax regulations and the federal tax code, providing clarity and consistency for taxpayers and tax professionals when computing state income taxes.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Senate minority caucus: Do pass (on 02/11/2025)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://apps.azleg.gov/BillStatus/BillOverview/82571 |
| Analysis - SENATE FACT SHEET: 03/03/2025 FIN As Enacted | https://apps.azleg.gov/BillStatus/GetDocumentPdf/526606 |
| BillText | https://www.azleg.gov/legtext/57leg/1r/bills/sb1222s.htm |
| Analysis - SENATE FACT SHEET: 01/30/2025 FIN | https://apps.azleg.gov/BillStatus/GetDocumentPdf/522407 |
| BillText | https://www.azleg.gov/legtext/57leg/1r/bills/sb1222p.htm |
Loading...