Notice of repeal of unused income tax credits

The Arizona Department of Revenue has reported for four consecutive fiscal years that no corporate taxpayers have claimed the income tax credit for employment by a healthy forest enterprise, agricultural pollution control equipment and donation of a school site.  Additionally,

 

Pursuant to A.R.S. § 43-224, for taxable years 2020 and after, taxpayers will no longer be eligible for a corporate income tax credit for:

  • Employment by a Healthy Forest Enterprise (Arizona Form 332-Corporate)
  • Agricultural Pollution Control Equipment (Arizona Form 325-Corporate)
  • Donation of a School Site (Arizona Form 331-Corporate)
  • Environmental Technology Facility  (Arizona Form 305-Corporate)

 

The repeal of the corporate income tax credits per §§ 43-1162, 43-1170.01 and 43-1181 and the individual income tax credit per §43-1080 will be included in the department's 2020 technical correction bill.  This legislation must be enacted for the repeal to become effective.

 

Thursday, Dec. 26, 2019

Revised February 14, 2020

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