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.