Arizona Laws 43-1013. Income tax surcharge for public education
Terms Used In Arizona Laws 43-1013
- Department: means the department of revenue, the director or the director's authorized delegate, as the context requires. See Arizona Laws 43-104
- Married person: means a married person on the last day of the taxable year subject to the rules in section 43-1002. See Arizona Laws 43-1001
- Person: means an individual. See Arizona Laws 43-1001
- Single person: means any person who is not married or who was legally separated on the last day of the person's taxable year. See Arizona Laws 43-1001
- Tax: means the taxes imposed under this title. See Arizona Laws 43-104
(Caution: 1998 Prop. 105 applies)
A. In addition to any other tax imposed by this chapter, for taxable years beginning from and after December 31, 2020, there shall be levied, collected and paid an income tax surcharge to advance public education in this state as follows:
1. In the case of a single person or a married person filing separately, a surcharge at the rate of three and one-half percent of taxable income in excess of $250,000.
2. In the case of a married couple filing a joint return or a single person who is a head of household, a surcharge at the rate of three and one-half percent of taxable income in excess of $500,000.
B. Notwithstanding sections 42-1116 and 43-206, the department shall separately account for revenues collected pursuant to the income tax surcharge imposed by this section, and shall deposit those revenues in the student support and safety fund established by section 15-1281.
C. The income tax surcharge levied by this section must be collected regardless of whether the income tax rate brackets in this chapter are changed, replaced or eliminated by an act of the legislature.