Arizona House to vote on new business tax credits
Web Producer: Mekita Rivas
PHOENIX (AP) - The Arizona House is poised to give final approval to a bill granting new tax breaks of $50 million over three years for insurance companies that invest in high technology companies.
A second bill set for its initial approval Monday will lower the property tax rate assessed on fixtures and other so-called "personal" property for businesses that expand and add jobs and also gives a new tax break for the self-employed. The value of the business tax break isn't yet known but the cut for the self-employed is valued at $58 million a year.
The bills being pushed by House speaker Andy Tobin build on previous Republican efforts to make Arizona's tax climate more business friendly. Minority Democrats argue they come at the expense of education and other state spending.
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