What’s new with Arizona

The state legislature passed legislation to shift Arizona from a progressive tax to a 2½% flat tax. The law scheduled a phase-in for the transition but also allowed the change to occur if the state budget met certain goals. Thanks to a solid economy, the state coffers achieved the goal so the governor’s office announced the flat tax will take effect for 2023. It will not affect 2022 tax returns.

Here are AzDOR’s tax change highlights:

— Individual Income Tax Highlights
— Partnership Highlights
— Corporate Income Tax Highlights

The Arizona legislature created a new alternative tax for Arizona small business income (SBI). The 3½% SBI tax could be beneficial to higher-income taxpayers, allowing them to pay a lower tax on small business income than on other income. For more information, see the SBI tax booklet.

For every form AzDOR issues, download the Arizona Booklet X.

 Arizona individual tax tables X&Y

Latest handy numbers

Where can you find the current mileage rates, tax brackets and  AZ Standard deductions, and oodles of other juicy numbers? At the FAQ page on the AzSEA website, of course.

Pima College EA Certificate

Pima Community College’s Enrolled Agent Certificate program includes SEE prep classes. SACEA supports the program and SACEA members teach some of the classes. If you know someone who could benefit by becoming an Enrolled Agent, encourage them to look into the EA program at https://catalog.pima.edu/preview_program.php?catoid=5&poid=1195