![]() ![]() The flat rate is scheduled to phase down to 4.7 percent in 2024, 4.4 percent in 2025, and 4 percent in 2026. Last year the Proposition 208 surcharge was voided as unconstitutional. Effective January 1, 2023, the 4 percent tax on taxable income between 5,000 and 10,000 was eliminated, leaving a single rate of 5 percent on income exceeding 10,000. 1672 (2011), which invalidated Arizona's Clean. Arizona state income tax rate table for the 2022 - 2023 filing season has four income tax brackets with AZ tax rates of 2.59, 3.34, 4.17, and 4.50 for Single, Married Filing Jointly, Married Filing Separately, and Head of Household statuses. Nine states have flat taxes for the current tax year, none lower than 3%. 8 Louise Story, As Companies Seek Tax Deals, Governments Pay High Price, The New. “Thanks to unprecedented economic growth, we can deliver additional tax relief to Arizonans one year ahead of schedule,” Ducey said in a letter to Revenue Director Rob Woods. The threshold to trigger the 2.5% rate early was $12.8 billion. ![]() Doug Ducey notified the Department of Revenue to implement the flat tax for 2023 after state budget officials calculated the 2022 general fund revenue at $16.7 billion. If the general fund threshold hadn’t been crossed this year, there would have been two rates for 2023: 2.53% for taxable income up to $27,272 and 2.75% for higher amounts. The tax year 2021 adjustments described below generally apply to tax returns filed in 2022. The 435 additional tax will be adjusted for inflation. Opponents argued the cuts mainly benefit the wealthy and could create a funding shortage for schools, health care and other priorities in the future.Īrizona’s income progressive tax rates ranged from 2.59% at the bottom end to 4.5% for high earners when the cuts were passed. 31, 2019, the new additional tax is 435 or 100 percent of the amount of tax due, whichever is less, an increase from 330. 1 min read Arizona individual income tax rates vary depending upon marital status, location, and income. Ducey signs $12.8 billion tax-cutting state budget 21, 2019: Florida state legislators are currently considering a bill that would reduce the sales-and-use tax rate on aircraft from 6 percent to 4 percent. ![]()
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