Arizona SB1106 amends state tax laws to conform with federal tax changes and introduces new deductions and credits.
Arizona SB1106 amends various sections of the Arizona Revised Statutes to align state tax laws with federal tax changes. It introduces new deductions for contributions to college savings plans, distributions from pension or retirement accounts, and scholarships from certified organizations. The bill also increases the standard deduction and allows for a subtraction for certain gas fees related to virtual currency or non-fungible tokens. Additionally, it modifies the dependent tax credit and introduces a new subtraction for adoption-related expenses.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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