If a proposed constitutional amendment wins voter approval this fall, the threshold for raising taxes at all levels of government in the state will be made significantly higher and could make it nearly impossible for tax increases or extensions to ever occur.Read More »
Arizona legislators may take an in-depth look at the state's tax system, with an eye toward broadening the sales tax while phasing out the individual and corporate income taxes.Read More »
The Senate on Jan. 19 approved a two-bill package that expands a program allowing a dollar-for-dollar tax credit for contributions to groups that give scholarships to private school students.Read More »
Three bills to eliminate or reduce the capital gains tax cleared a House committee today, despite objections from Democrats that a reduction would be too costly for the state.Read More »
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 »