Arizona HB2288 amends corporate income tax to allow subtraction of foreign dividends from Arizona gross income.
Arizona HB2288 modifies the Arizona Revised Statutes to allow corporations to subtract foreign dividends from their Arizona gross income when computing taxable income. This amendment includes dividends from foreign corporations, considering them as foreign dividends under the Internal Revenue Code. The bill aims to align Arizona's corporate income tax with federal tax treatment of foreign dividends.
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