Bill Text: AZ SB1211 | 2011 | Fiftieth Legislature 1st Regular | Introduced

---

Bill Title: Corporate income tax; phase-out

Spectrum: Partisan Bill (Republican 12-0)

Status: (Introduced - Dead) 2011-01-25 - Referred to Senate FIN Committee [SB1211 Detail]

Download: Arizona-2011-SB1211-Introduced.html

---

 

 

 

REFERENCE TITLE: corporate income tax; phase-out

 

 

 

State of Arizona

Senate

Fiftieth Legislature

First Regular Session

2011

 

 

SB 1211

 

Introduced by

Senators Klein, Murphy; Representative Burges: Senators Allen, Antenori, Biggs, Bundgaard, Gould, Melvin, Pierce S, Shooter, Smith

 

 

AN ACT

 

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

 

 

(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 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:

1.  For taxable years beginning through December 31, 2011, 6.968 per cent of net income or fifty dollars, whichever is greater.

2.  For taxable years beginning from and after December 31, 2011 through December 31, 2012, 4.645 per cent of net income or fifty dollars, whichever is greater.

3.  For taxable years beginning from and after December 31, 2012 through December 31, 2013, 2.322 per cent of net income or fifty dollars, whichever is greater.

4.  For taxable years beginning from and after December 31, 2013, the tax is zero. END_STATUTE