A. For taxable years beginning from and after December 31, 2020, a small business taxpayer may elect to file a return for the taxable year with the department to report that small business taxpayer’s share of Arizona small business gross income. The election shall be made separately for each taxable year and is effective by reporting Arizona small business adjusted gross income on a timely filed Arizona small business income tax return.

Terms Used In Arizona Laws 43-302

  • Department: means the department of revenue, the director or the director's authorized delegate, as the context requires. See Arizona Laws 43-104
  • Individual: means a natural person. See Arizona Laws 43-104
  • Small business taxpayer: means any individual taxpayer who reports on the taxpayer's federal income tax return any income that constitutes Arizona small business gross income as defined in section 43-1701. See Arizona Laws 43-104
  • Tax: means the taxes imposed under this title. See Arizona Laws 43-104
  • Taxable year: means :

    (a) The calendar year or the fiscal year, ending during such calendar year, on the basis of which the taxable income is computed under this title. See Arizona Laws 43-104

B. The election under subsection A of this section may be revoked on a timely filed amended Arizona small business income tax return and a corresponding Arizona individual income tax return.

  Previous section
Next section  
 Article 1 Contents