Arizona HB2629 amends corporate income tax rates, setting a minimum tax and reducing rates over time.

Arizona HB2629 amends the corporate income tax rates, setting a minimum tax of $50 or 4.9 percent of net income, whichever is greater, for taxable years beginning after December 31, 2016. Corporations with 50 or more employees face a minimum tax of $1,000. The bill phases in lower tax rates, reducing them from 6.968 percent for years ending through 2013 to 4.9 percent for years after 2016. The changes apply to taxable years beginning after December 31, 2026.

Arizona HB2629 amends corporate income tax rates, setting a minimum tax and reducing rates over time.

Arizona HB2629 amends the corporate income tax rates, setting a minimum tax of $50 or 4.9 percent of net income, whichever is greater, for taxable years beginning after December 31, 2016. Corporations with 50 or more employees face a minimum tax of $1,000. The bill phases in lower tax rates, reducing them from 6.968 percent for years ending through 2013 to 4.9 percent for years after 2016. The changes apply to taxable years beginning after December 31, 2026.