Bill Text: AZ HB2223 | 2011 | Fiftieth Legislature 1st Regular | Introduced

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Bill Title: Income tax rate reduction; corporations

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2011-02-14 - House WM Committee action: Held [HB2223 Detail]

Download: Arizona-2011-HB2223-Introduced.html

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REFERENCE TITLE: income tax rate reduction; corporations

 

 

 

State of Arizona

House of Representatives

Fiftieth Legislature

First Regular Session

2011

 

 

HB 2223

 

Introduced by

Representative Fillmore

 

 

AN ACT

 

Amending section 43-1111, Arizona Revised Statutes; relating to corporate income tax rates.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Section 43-1111, Arizona Revised Statutes, is amended to read:

START_STATUTE43-1111.  Tax rates for corporations

There shall be levied, collected and paid for each taxable year upon on the entire Arizona taxable income of every corporation, unless exempt under section 43-1126 or 43-1201 or as otherwise provided in this title or by law, taxes in an amount of 6.968 3.484 per cent of net income or fifty dollars, whichever is greater. END_STATUTE

Sec. 2.  Retroactivity

This act applies retroactively to taxable years beginning from and after December 31, 2010.