Arizona Small Business Income Tax Highlights

2023 Highlights

Due date for Calendar Year Filers

Your 2023 Small Business Income tax return is due by midnight on April 15, 2024. If you file under a valid extension, your extended due date to file your income tax return is October 15, 2024.

2023 Arizona Small Business Income (SBI) Tax

The tax rate applicable to small business taxable income reported on Forms 140-SBI, 140PY-SBI or Form 140NR-SBI was reduced from 3.0% in 2022 to 2.5% for 2023.

New Individual Tax Credits

Credit for Motion Picture Production Costs (Form 334)

For taxable years beginning from and after December 31, 2022, a tax credit is allowed against production costs paid by a motion picture production company in this state that are subject to taxation by this state and that are directly attributable to a motion picture production. The tax credit may be claimed on either the individual’s personal income tax return (Form 140, 140NR, or 140PY) or the Small Business Income tax return, if filing. (Form 140-SBI, 140NR-SBI, or 140PY-SBI)

For more information, see Credit Form 334 and instructions.