Arizona Laws 43-1127. Deferred exploration expenses
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The amount of exploration expenses added to Arizona gross income pursuant to section 43-1121, paragraph 10 may be subtracted on a ratable basis as the units of produced ores or minerals discovered or explored by reason of such expenditures are sold. An election made for any taxable year shall be binding for that year.
Terms Used In Arizona Laws 43-1127
- 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