Arizona Laws 43-1742. Individual income tax credits; applicability
Current as of: 2024 | Check for updates
|
Other versions
The credits allowed under chapter 10, article 5 of this title are allowed against the tax due under this chapter to the extent the credit is derived from items otherwise included in computing Arizona small business gross income. To the extent the credits allowed by this section exceed the tax due under this chapter for the taxable year, the excess amount of the credits claimed by the Arizona small business is allowed as a credit against the tax imposed on the small business taxpayer under chapter 10 of this title.
Terms Used In Arizona Laws 43-1742
- Arizona small business: means an activity that generates Arizona small business gross income. See Arizona Laws 43-1701
- 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