Analysis: New tax laws mean we’ll be paying more to the state

By Howard Fischer | Capitol Media Services via Arizona Capitol Times

State government stands to gain — and Arizona taxpayers stand to lose — more than $200 million because of the federal tax law changes approved by Congress and signed by President Trump.

And Gov. Doug Ducey has not decided whether he wants to keep the windfall.

Related: Push on to fix adverse effect of Trump tax cuts on state taxpayers

A new report by the Department of Revenue, obtained by Capitol Media Services, shows the net increase in state income taxes to Arizona residents will be in the range of $15.6 million for the current budget year that runs through July 1.

But the real difference comes the following budget year when individuals start filing their 2018 calendar year tax returns. They will find that, collectively, they owe $222 million more to the state than they otherwise would had the federal law not been changed; for the following year the figure is nearly $258 million.


Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

Court Rich, Rose Law group co-founder, Director of Renewable Energy & Utility Infrastructure, celebrates 20 years of sustainability in the legal field

By InBusiness Phoenix Court Rich, Co-Founder of Rose Law Group pc, is celebrating twenty years since joining the firm. Under Court’s guidance, Rose Law Group has become a leading firm for renewable energy and regulatory law in the Southwest. When Court joined in 2004, the firm had just two attorneys. Today, it boasts a

Read More »