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Legislative panel recommends changes to income tax code

Posted by   /  December 13, 2013  /  No Comments

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Sen. Steve Yarbrough,

Sen. Steve Yarbrough,

By Ben Giles | Arizona Capitol Times

A panel of lawmakers, tax experts and economists voted Thursday to recommend a series of changes to Arizona’s individual income tax code, including an eleventh-hour proposal to reduce the number of income brackets used to calculate tax rates paid by Arizonans.

The late pitch for a reduction of the state’s five income brackets to three brackets, made by Sen. Steve Yarbrough, R-Chandler, would at least steer Arizona towards one day having a single-rate individual income tax system – a goal of the Income Tax Reform Task Force’s leader, Rep. J.D. Mesnard.

The bracket reduction measure was one of eight specific changes that lawmakers will introduce in a legislative package in the 2014, each receiving a majority consensus by the task force, which took a voice vote on a report detailing the suggested adjustments.

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