Arizona has gained a reputation as the state that embraces free enterprise and is home to thriving businesses. Our citizens enjoy one of the nation’s best personal income growth rates and corporations are locating to Arizona in record numbers.
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Arizona taxpayers are able to take advantage of many tax credits, which are often more valuable than deductions, and can help you save even more on your state income taxes. The following are just some of the ways you can take advantage of arizona tax relief:
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Tax Credit for Qualifying Charitable Organizations
The Arizona Department of Revenue sanctions several tax credits that support local nonprofits by redirecting what would be your Arizona income tax dollar to those organizations. These non-refundable credits have a maximum amount that varies by filing status and can be carried forward for five years.
Property Tax Exemption for Disabled Veterans and Surviving Spouses
Disabled veterans or surviving spouses may be exempt from paying property tax on real estate, manufactured homes and mobile homes up to $4,375 of the assessed value of the property.
Solar Energy Tax Credit
This refundable tax credit is designed to encourage business investment in solar energy systems at facilities located in Arizona. The credit is not available to companies that are using a solar energy system purchased from a third party.Tax Assistance in Tampa