Arizona tax changes include NOL carryover extension and tax credit creation and expansion

May 2012

Overview

On May 11, 2012 Governor Jan Brewer signed H.B. 2815, which includes the following tax changes:

  • Extends Arizona's NOL carryover from 5 to 20 years;
  • Adopts new qualified facility income tax credit;
  • Expands the new jobs and renewable energy tax credits; and
  • Adopts bonus depreciation and a phase-in partial deduction for long-term capital gain income for individual income tax purposes.

Contact us

Peter Michalowski
National SALT Practice Leader
Tel: +1 (646) 471 5259
Email

Follow us