Good news for Arizona taxpayers: the 2.5% flat income tax is being phased in one year ahead of schedule!

Thanks to robust economic growth, general fund revenue has passed the threshold needed for early implementation of the tax cut. Governor Ducey notified the Department of Revenue that implementation of the lowest flat tax in the nation can begin in 2023.

Arizona hits revenue threshold to implement 2.5% flat income tax a year early

Sept. 29, 2022

PHOENIX – Arizona’s flat income tax rate of 2.5% will kick in for the 2023 tax year thanks to a healthy economy, the state announced Thursday.

The single-rate system was scheduled to be implemented no later than the 2024 tax year, but it will start a year earlier because the state’s general fund revenue surpassed a statutory threshold.

The phased-in flat tax plan was part of the 2021 state budget. The plan will cut income taxes by 13% for the average taxpayer, about $340 per year, according to the Governor’s Office.

Read the Full Story
Please help us get the word out! Share this news:
Share Share
Tweet Tweet
Share Share
Forward Forward
Team Ducey
Paid for by Ducey for Governor. Authorized by Ducey for Governor.

Our mailing address is:
Ducey for Governor
PO Box 12558
Tempe, AZ 85284

Add us to your address book

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.