Bill > HB2629

This bill amends Arizona Revised Statutes section 43-1111, which deals with corporate income tax rates, by introducing a new provision that establishes a higher minimum tax for certain corporations. Currently, corporations pay a minimum tax of $50 or a percentage of their net income, whichever is greater, with the tax rate decreasing over time to 4.9% for taxable years beginning after December 31, 2016. The bill proposes to add a new subsection that mandates a minimum tax of $1,000 for any corporation that has fifty or more employees and is not otherwise exempt from paying taxes. This change will apply to taxable years beginning after December 31, 2026, and requires a two-thirds vote for enactment.

Budget and Finance

https://apps.azleg.gov/BillStatus/BillOverview/84441