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Current as of March 08, 2022 | Updated by FindLaw Staff
A. Subject to the conditions prescribed by this section, a credit is allowed against the taxes imposed by this chapter for a taxable year for taxpayers whose Arizona adjusted gross income, plus the amount subtracted for exemptions under § 43-1023, is:
1. $20,000 or less in the case of a married couple filing a joint return with not more than one dependent or a single person who is a head of a household with not more than one dependent.
2. $23,600 or less in the case of a married couple filing a joint return with two dependents.
3. $27,300 or less in the case of a married couple filing a joint return with three dependents.
4. $31,000 or less in the case of a married couple filing a joint return with four or more dependents.
5. $20,135 or less in the case of a single person who is a head of a household with two dependents.
6. $23,800 or less in the case of a single person who is a head of a household with three dependents.
7. $25,200 or less in the case of a single person who is a head of a household with four dependents.
8. $26,575 or less in the case of a single person who is a head of a household with five or more dependents.
9. $10,000 or less in the case of a single person or a married person filing separately.
B. The amount of the credit is equal to $40 for each person who is a resident of this state and who is either the taxpayer, the taxpayer's spouse who does not file a return or a dependent but may not exceed:
1. $240 in the case of a married couple filing a joint return or a single person who is a head of a household.
2. $120 in the case of a single person or a married couple filing separately.
3. For any taxpayer, the amount of taxes due under this chapter for the taxable year.
Cite this article: FindLaw.com - Arizona Revised Statutes Title 43. Taxation of Income § 43-1073. Family income tax credit - last updated March 08, 2022 | https://codes.findlaw.com/az/title-43-taxation-of-income/az-rev-st-sect-43-1073/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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