First Regular Session H.B. 2838
PROPOSED
SENATE AMENDMENTS TO H.B. 2838
(Reference to House engrossed bill)
Page 1, line 10, strike "42-1075" insert "43-1075"
Line 42, after "c." insert "For taxable years beginning from and after December 31, 2021, an entity that is treated as"; strike ", limited liability company"; after "corporation" insert "for federal income tax purposes"
Page 2, line 25, strike "limited"
Line 26, strike "liability companies;"
Line 28, strike ", members"; after "is" insert "treated as a"; strike the second comma
Line 29, strike "limited liability company"
Line 30, after "four" insert "and one-half"
Line 31, strike "its" insert "the"; after "entire" insert "portion of its"; after "is" insert "attributable to its resident partners or shareholders and the portion of its taxable income"; after "state" insert "that is attributable to its nonresident partners or shareholders"
Lines 37 and 40, strike ", limited liability company"
Line 43, strike ", members"; strike "their" insert "the"
Line 44, strike "such"; after "income" insert "that is attributable to each partner or shareholder for Arizona tax purposes"
Page 3, line 1, strike ", limited liability company"
Strike lines 3 through 5
Reletter to conform
Page 4, line 44, strike "the partner's, member's or shareholder's pro rata share of"
Line 45, strike ", limited liability company"
Page 5, line 1, after "paid" insert "to this state"
Line 2, after "43-1014" insert "and for taxes that the department determines are substantially similar to the tax imposed under section 43-1014. This amount shall be reflected in the partner's or shareholder's Arizona gross income and the partnership's or S corporation's Arizona taxable income"
Page 6, line 40, strike "pursuant to" insert "under"
Line 41, after "year" insert "and that is imposed"
Line 43, strike "distributive proceeds" insert "taxable income attributable to the resident taxpayer"
Line 44, strike "are" insert "is"
Page 8, line 6, after "partnership" strike remainder of line
Line 9, after the third "the" strike remainder of line
Line 10, strike "shareholder's pro rata share" insert "portion"; strike ", limited"
Line 11, strike "liability company"; after "43-1014" insert "that is attributable to the partner's or shareholder's share of income taxable in this state"
Line 20, after "partnerships" strike remainder of line
Line 21, strike "companies"
Amend title to conform