Arizona Laws 43-108. Subtraction from gross income; ordinary and necessary expenses; marijuana establishments and marijuana testing facilities; definitions
Terms Used In Arizona Laws 43-108
- 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
- Trade or business: includes the performance of the functions of a public office. See Arizona Laws 43-104
(Caution: 1998 Prop. 105 applies)
A. Notwithstanding any other law, in computing Arizona adjusted gross income or Arizona taxable income for a taxpayer, all ordinary and necessary expenses paid or incurred during the taxable year in carrying on a trade or business as a marijuana establishment, marijuana testing facility, or dual licensee that elects to operate on a for-profit basis pursuant to Title 36, Chapter 28.2 shall be subtracted from Arizona gross income to the extent not already excluded from Arizona gross income.
B. For the purposes of this section, "dual licensee," "marijuana establishment," and "marijuana testing facility" have the same meanings prescribed in section 36-2850.