Arizona HB2685 establishes an earned income tax credit of $350 for qualifying individuals.

Arizona HB2685 amends the Arizona Revised Statutes to introduce an earned income tax credit of $350 for individuals who qualify under the Internal Revenue Code. This credit is applicable against taxes due under the state's income tax title. The bill also mandates that the Department of Revenue provide suitable claim forms with individual income tax returns. If the credit exceeds the tax due, the excess will be paid as a refund. The credit applies retroactively to taxable years beginning after December 31, 2024.

Arizona HB2685 establishes an earned income tax credit of $350 for qualifying individuals.

Arizona HB2685 amends the Arizona Revised Statutes to introduce an earned income tax credit of $350 for individuals who qualify under the Internal Revenue Code. This credit is applicable against taxes due under the state's income tax title. The bill also mandates that the Department of Revenue provide suitable claim forms with individual income tax returns. If the credit exceeds the tax due, the excess will be paid as a refund. The credit applies retroactively to taxable years beginning after December 31, 2024.