Individual Income Tax Highlights

2024 HIGHLIGHTS

 

Due Date for Calendar Year Filers

Your 2024 individual income tax return is due by midnight on April 15, 2025. If you file under a valid extension, your extended due date to file your income tax return is October 15, 2025.

 

Arizona 2024 Changes

Some of these changes include:

 

2024 Arizona Standard Deduction Amounts Adjusted

The 2024 Arizona standard deduction amounts are:

  • $ 14,600 for a single taxpayer or a married taxpayer filing a separate return;
  • $ 29,200 for a married couple filing a joint return; and
  • $ 21,900 for individuals filing a head of household return.

 

Change to Standard Deduction Increase for Charitable Contributions Computation

For taxpayers who do not itemized deductions on their 2024 Arizona income tax return and elect to take the standard deduction, the allowable Standard Deduction Increase was modified. For tax year 2024, the allowable portion of your charitable contributions used to compute your Standard Deduction Increase was increased from 31% to 33% of the qualified charitable contributions made during the tax year. Taxpayers must complete page 3 of their personal income tax form to claim the Standard Deduction Increase. (Arizona Form 140, Form 140PY or Form 140NR).

 

2024 New Tax Rate of 2.5% for All Income Levels and Filing Status

The Optional Tax Table and the X and Y Tax Table are now obsolete.

 

Credit for Contributions to Private School Tuition Organizations (Form 323)

The allowable current year credit for contributions to private school tuition organizations was adjusted for inflation purposes. For 2024, the maximum current year credit is:

  • $731 for single and head of household taxpayers.
  • $1,459 for married taxpayers filing a joint return.

 

Credit for Contributions Made to Certified School Tuition Organizations (Form 348)

The allowable current year credit for contributions to a certified school tuition organization was adjusted for inflation purposes. For 2024, the maximum current year credit is:

  • $728 for single and head of household taxpayers.
  • $1,451 for married taxpayers filing a joint return.

 

Credit for Contributions to Qualifying Foster Care Charitable Organizations

This individual income tax credit is available for contributions to Qualifying Foster Care Charitable Organizations that provide immediate basic needs to residents of Arizona who receive temporary assistance for needy families (TANF) benefits, are low income residents of Arizona, or are individuals who have a chronic illness or physical disability, and provide immediate basic needs to at least 200 qualifying individuals in the foster care system. The tax credit is claimed on Form 352.

The maximum QFCO credit donation amount for 2024:

  • $587 single, married filing separate or head of household
  • $1,173 married filing joint.

The maximum QFCO credit donation amount for 2025:

  • $618 single, married filing separate or head of household;
  • $1,234 married filing joint.

Please Note: Arizona law allows QFCO donations made during 2024 or donations made from January 1, 2025 through April 15, 2025 to be claimed on the 2024 Arizona income tax return. The maximum credit that can be claimed on the 2024 Arizona return for donations made to QFCO's is $587 for single, married filing separate and head of household taxpayers, and $1,173 for married filing joint taxpayers. If a taxpayer makes a QFCO donation from January 1, 2025 through April 15, 2025 and wants to claim the higher 2025 maximum credit amount, the taxpayer will need to claim the credit on their 2025 Arizona return filed in 2026.

 

Credit for Contributions to Qualifying Charitable Organizations

This individual income tax credit is available for contributions to Qualifying Charitable Organizations that provide immediate basic needs to residents of Arizona who receive temporary assistance for needy families (TANF) benefits, are low income residents of Arizona, or are individuals who have a chronic illness or physical disability. The tax credit is claimed on Form 321.

The maximum QCO credit donation amount for 2024:

  • $470 single, married filing separate or head of household;
  • $938 married filing joint.

The maximum QCO credit donation amount for 2025:

  • $495 single, married filing separate or head of household;
  • $987 married filing joint.

Please Note: Arizona law allows QCO donations made during 2024 or donations made from January 1, 2025 through April 15, 2025 to be claimed on the 2024 Arizona income tax return. The maximum credit that can be claimed on the 2024 Arizona return for donations made to QCO's is $470 for single, married filing separate or head of household taxpayers, and $938 for married filing joint taxpayers. If a taxpayer makes a QCO donation from January 1, 2025 through April 15, 2025 and wants to claim the higher 2025 maximum credit amount, the taxpayer will need to claim the credit on their 2025 Arizona return filed in 2026.

 

Credit for Solar Energy Devices (Commercial and Industrial Applications) Form 336

Because this credit was required to be established by the 2018 tax year and the five year carry forward period expired in 2023 this form will not be available for the 2024 tax year and beyond.