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

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.

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