REFERENCE TITLE: reduce corporate income tax rate

State of Arizona House of Representatives Fiftieth Legislature First Regular Session 2011

HB 2503

Introduced by Representative Seel

 

AN ACT

 

Amending section 43-1111, Arizona Revised Statutes; relating to corporate income tax rate.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Section 43-1111, Arizona Revised Statutes, is amended to read:

START_STATUTE43-1111.  Tax rates for corporations

There shall be levied, collected and paid for each taxable year upon the entire Arizona taxable income of every corporation, unless exempt under section 43-1126 or 43-1201 or as otherwise provided in this title or by law, taxes in an amount of 6.968 five per cent of net income or fifty dollars, whichever is greater. END_STATUTE