Ariz. governor seeking tax changes for businesses
Published: January 11, 2012 at 7:45 am
Building on last year’s big “competitiveness” package of tax cuts for businesses, Republican Gov. Jan Brewer is offering a new, smaller package of proposed changes that she says will address so-called “problem areas.”
The proposed changes on capital gains and other tax provisions largely track the legislative wish-list of the state’s biggest business lobby, the Arizona Chamber of Commerce and Industry.
The governor’s office has yet to disclose the impact on state revenue.
The sweeping 2011 legislation included phased-in corporate income tax rate cuts and formula changes to reduce businesses’ income and property taxes. Other provisions provided grants for creating new jobs and employee training.
That package is estimated to cost $538 million once fully implemented in 2017. That’s about 6.5 percent of the current state budget.