Webcast: Arizona Small Business Income Tax and Passthrough Entity Tax

Recently the Arizona courts have issued decisions that have indirectly impacted both the Arizona Small Business Income (SBI) Tax and upcoming Passthrough Entity Tax (PTET). 

In this session we'll look at how these taxes work, the impact of the court decisions and Department of Revenue guidance on the SBI following those decisions. In particular we'll look at the guidance ADOR only issued on the SBI once Proposition 208 was officially ruled in violation of the Arizona constitution and how the lower rate that will take effect now that we know SB 1828's rates will apply for 2022 taxes effectively renders the SBI tax moot for future years (most likely) and the issues this creates with the PTET given the PTET is stuck at a much higher rate.