PHOENIX (AP) — Legislation approved with bipartisan support among state lawmakers and signed into law by Gov. Doug Ducey conforms Arizona’s tax code to federal income tax changes that include steps providing pandemic relief.
The bill signed late Wednesday by Ducey was approved unanimously by the Legislature. Ducey said the legislation will help individuals and businesses who had to navigate the COVID-19 pandemic.
The governor's office said Arizona's conforming changes include exempting federal Paycheck Protection Program loans from state income tax and providing a state income tax exemption for the first $10,000 in unemployment insurance benefits received in 2020.