Quantcast
Home / Home news / Arizona could get revenue pickup from ‘fiscal cliff’

Arizona could get revenue pickup from ‘fiscal cliff’

Arizona could get revenue pickup from 'fiscal cliff' Legislative budget analysts say the federal budgetary “fiscal cliff” may have a bright side for the state treasury, at least in the short term.

The joint Legislative Budget Committee staff says it appears that investors and companies are taking steps to respond to the possibility of higher federal income tax rates in January.

Those steps include locking in capital gains now and paying higher dividends in the last quarter of 2012.

According to the analysts, that could substantially increase personal income in the 2012 tax year and produce higher income tax collections for the state in April.

However, the analysts say a downside would be lower than expected income liability in future years.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

 

x

Check Also

Rep. Trent Franks, R-Ariz., takes his seat before the start of a House Judiciary hearing on Capitol Hill in Washington, Thursday, Dec. 7, 2017, on Oversight of the Federal Bureau of Investigation. Franks says in a statement that he never physically intimidated, coerced or attempted to have any sexual contact with any member of his congressional staff. Instead, he says, the dispute resulted from a discussion of surrogacy. Franks and his wife have 3-year-old twins who were conceived through surrogacy. (AP Photo/Carolyn Kaster)

Suits seek to bar 2 Democrats seeking ex-Rep. Franks’ seat

Two of three Democrats running in the special primary election to replace former U.S. Rep. Trent Franks are facing lawsuits challenging their right to appear on the ballot.