Arizona § 43-1077 Credit for entity-level income tax

Arizona Statutes

§ 43-1077 — Credit for entity-level income tax

Arizona § 43-1077

Title 43Arizona Revised Statutes

Ch. 10INDIVIDUALS

Art. 5Credits

This text of Arizona § 43-1077 (Credit for entity-level income tax) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 43-1077 (2026).

Text

A.For taxable years beginning from and after December 31, 2021, a credit is allowed against the taxes imposed by this title for a taxpayer who is a partner in a partnership or a shareholder of an S corporation that elects to pay the tax under section 43-1014.

B.The amount of the credit is the portion of the tax paid by the partnership or S corporation under section 43-1014 that is attributable to the partner's or shareholder's share of income taxable in this state.

C.If the allowable credit exceeds the taxes otherwise due under this title on the claimant's income, or if there are no taxes due under this title, the amount of the claim not used to offset taxes under this title may be carried forward for not more than five consecutive taxable years as a credit against subsequent years' i

Free access — add to your briefcase to read the full text and ask questions with AI

A. For taxable years beginning from and after December 31, 2021, a credit is allowed against the taxes imposed by this title for a taxpayer who is a partner in a partnership or a shareholder of an S corporation that elects to pay the tax under section 43-1014.

B. The amount of the credit is the portion of the tax paid by the partnership or S corporation under section 43-1014 that is attributable to the partner's or shareholder's share of income taxable in this state.

C. If the allowable credit exceeds the taxes otherwise due under this title on the claimant's income, or if there are no taxes due under this title, the amount of the claim not used to offset taxes under this title may be carried forward for not more than five consecutive taxable years as a credit against subsequent years' income tax liability.