Corporate Income Tax Corporate Income tax is levied for all firms at 7.96 percent. An Arizona Department of Commerce Business Development specialist can help determine how Arizona business taxes would apply to your particular situation.
Business inventories are exempt from property tax.
Has a five-year accelerated depreciation schedule for assessing valuation of class three and class four personal property. Provides for a 10 percent income tax credit on purchase price of real and personal property used to control or prevent pollution. Exempts chemicals used directly as part of an integrated system in manufacturing, mining, research and development, and certain other activities from transaction privilege and use tax. Exempts machinery or equipment used directly in manufacturing, processing, fabricating, job printing, refining or metallurgical operations from both transaction privilege and use tax. Exempts machinery or equipment used in research and development from transaction privilege and use tax.