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Phoenix Arizona online Form 1065 (Schedule D): What You Should Know
The business owner on the page gets the state business information. Arizona Income Tax Rate Arizona state income tax rates are set annually in a state law, and are effective on the first day of a month. Arizona's residents pay a standard 6% income tax rate on the first 14,000 of their taxable income. Personal exemptions and exemptions for Arizona residents increase the income tax owed by up to 1,900 per individual or 4,900 per couple tax year. (See the section on exemptions for more information, then see how to estimate exemptions for yourself, and see how to eliminate them altogether by using the Arizona exemptions calculator) If you earn 24,000 of taxable income in one year (or if your taxable income for one year is greater than 24,000; this year you have the choice of which year of tax to file), you will receive a 1,800 personal exemption and 1,200 each 1,000 of exemptions for each of your dependents. If you earn 24,000 you will be taxed at the standard rate. There is no state personal tax for nonresidents of Arizona. See the section on the “Nonresidents and Arizona” tab above to learn more. For example, if you earn 60,000 of taxable income in Arizona for 2015, you would have an income tax liability of 6,400; these tax payments would be offset by your 1,800 exemption (600 minus 1,200 for each dependent exemption) and the 300 standard personal income tax exemption. (See the section on personal exemptions, then see how to estimate exemptions for yourself and see how to eliminate them entirely.) Example 2: You earn 40,000 of taxable income in Arizona for 2015, and have a taxable income rate of 7.0% on your first 24,000 in taxable income. If you file 2025 Arizona income tax returns, the first 24,000 will be tax-free to you, as will any unused personal exemptions. If you file for the first time for the 2016, you may file an add-back return by filing an “add-back” itemized tax return. This is a return where the taxpayer gives the tax administrator a completed Form 1065 for the year that does not show any line item deduction, and the return does not contain a business line item or a schedule item.
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