summary
Introduced
01/20/2026
01/20/2026
In Committee
Crossed Over
Passed
Dead
Introduced Session
Fifty-seventh Legislature - Second Regular Session (2026)
Bill Summary
AN ACT amending section 43-1122, Arizona Revised Statutes; relating to corporate income tax.
AI Summary
This bill amends Arizona law to allow corporations to subtract certain income from their foreign dividends when calculating their corporate income tax. Specifically, it clarifies that "foreign dividends" for subtraction purposes now include "net controlled foreign corporation tested income," which refers to income earned by foreign corporations that are controlled by a U.S. corporation, as defined by section 951A of the Internal Revenue Code. This change aims to adjust how certain foreign earnings are treated for Arizona tax purposes, potentially reducing the tax burden on corporations with significant foreign operations.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
House read second time (on 01/21/2026)
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/84022 |
| Analysis - HOUSE SUMMARY: 01/16/2026 Ways & Means | https://apps.azleg.gov/BillStatus/GetDocumentPdf/534243 |
| BillText | https://www.azleg.gov/legtext/57leg/2r/bills/hb2288p.htm |
Loading...