With the budget stabilizing and the economy needing another boost, some lawmakers have set their eyes on drastic tax reductions, including proposals to lower or eliminate the capital gains tax.Read More »
An influential tax policy group will seek to put a measure on the ballot to limit growth in property values.
The Arizona Tax Research Association wants taxable property values to grow by no more than 5 percent each year.
Businesses planning on purchasing new machinery in 2013 or later may get some tax relief under a referendum at the state Legislature. HCR 2009, sponsored by Rep. Jack Harper, R-Surprise, and developed by the Arizona chapter of the National Federation of Independent Businesses would exempt the first $2.4 million of new equipment or machinery purchased after 2013 from the business personal property tax. Currently, the exemption is $68,079.Read More »
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."Read More »
The Greater Phoenix Economic Council is rebooting its signature bill from the 2011 legislative session with some substantial changes that may help it avoid another veto.
The GPEC-drafted proposal, obtained by the Arizona Capitol Times, contains familiar benefits for businesses: A huge property tax break for companies that make major investments, and a tax break for Arizona-based companies that provide services to out-of-state customers.
Officials say property owners in Maricopa County will see virtually the same property tax bills as they did last year.Read More »
California’s loss could be Arizona’s gain, if some legislators have any say about it.
With the outcry from some businesses about the Golden State’s newly-passed “nexus tax” on some online retailers, Rep. Tom Forese, R-Gilbert, has proposed that Arizona take advantage of the discontent and try to recruit the angry businesses to Arizona, which has no such tax.
Arizonans will find it harder to ignore their obligation to pay sales taxes on purchases of goods bought online or outside the state.Read More »
The Arizona Competitiveness Package goes into effect June 30, and while the business tax cuts that formed its foundation won’t start phasing in until 2014, several provisions will take root immediately.Read More »
Increases in individual income taxes and a higher-than-anticipated influx of federal funds put May’s revenue collections on solid footing, the Legislature’s budget arm reported.Read More »