Arizona HB2531 amends income tax laws to adjust standard deductions and introduce new subtractions.

Arizona HB2531 amends sections of the Arizona Revised Statutes related to income tax, including adjustments to standard deductions and new subtractions from Arizona gross income. The bill specifies different standard deduction amounts for various filing statuses and taxable years, ranging from $12,200 to $31,500. It also introduces new subtractions for various income types, such as benefits from the United States government, contributions to college savings plans, and expenses related to adoption and qualified tips.

Arizona HB2531 amends income tax laws to adjust standard deductions and introduce new subtractions.

Arizona HB2531 amends sections of the Arizona Revised Statutes related to income tax, including adjustments to standard deductions and new subtractions from Arizona gross income. The bill specifies different standard deduction amounts for various filing statuses and taxable years, ranging from $12,200 to $31,500. It also introduces new subtractions for various income types, such as benefits from the United States government, contributions to college savings plans, and expenses related to adoption and qualified tips.