REFERENCE TITLE: reduce corporate income tax rate |
State of Arizona House of Representatives Fiftieth Legislature First Regular Session 2011
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HB 2503 |
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Introduced by Representative Seel
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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:
43-1111. 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.