– Lowered commercial property assessment ratio from 20% to 18%.

– Increased the additional depreciation schedule and exemption amount for business personal property.

– Lowered corporate income taxes from 6.9% to 4.9%.

Published: 04/15/2022
Updated: 04/18/2022

• • • Lowered commercial property assessment ratio from 20% to 18%

   

  • • Increased the additional depreciation schedule and exemption amount for business personal property

   

  • • Lowered corporate income taxes from 6.9% to 4.9%

   

  • • Increased the optional sales factor formula from 80% to 100%

   

  • • Established the Arizona Competes fund and Quality Jobs tax credit

   

  • • Enhanced the R&D tax credit to include an additional 10% for university related research