State SealARIZONA HOUSE OF REPRESENTATIVES

 

HB2522: conformity; internal revenue code; rates.

PRIME SPONSOR: Representative Toma, LD 22

BILL STATUS: Caucus & COW

                                Ways & Means: DPA 6-4-0-0

 

Overview

Conforms Arizona's income tax calculation to the changes made to the internal revenue code effective on January 1, 2018.

☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☒ Emergency (40 votes) ☐ Fiscal NoteHistory
Current A.R.S. §43-105 does not conform to current internal revenue code, as amended, and in effect on January 1, 2018, including provisions effective in 2017, the bipartisan act of 2018 and the consolidated appropriations act of 2018.

Generally, each year changes are made to the internal revenue code that Arizona must choose to conform to.

Provisions

1.       Conforms Arizona's income tax calculation for the taxable year beginning from and after December 31, 2017 through December 31, 2018 to the internal revenue code of 1986, as amended, in effect on January 1, 2018. (Sec. 1)

2.       Reduces the individual income tax rate for the taxable year beginning from and after December 31, 2017 through December 31, 2018 by .11 percent from the rates prescribed in A.R.S. §43-1011(A)(5). (Sec. 1)

3.       Specifies the individual income tax rate for taxable years from and after December 31, 2018 are the rates prescribed in A.R.S. §43-1011(A)(5). (Sec. 1)

4.       Repeals Section 1 from and after December 31, 2019.

5.       Applies retroactively to taxable years beginning from and after December 31, 2017. (Sec. 2)

6.       Includes an emergency clause. (Sec. 3)

Amendments

Committee on Ways and Means

1.       Makes a technical change.

2.        

3.        

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5.       Fifty-fourth Legislature                       HB 2522

6.       First Regular Session                            Version 2: Caucus & COW

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