2010 Arizona Revised Statutes
Title 43 - Taxation of Income
43-1073 Family income tax credit
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43-1073. Family income tax credit A. Subject to the conditions prescribed by this section, a credit is allowed against the taxes imposed by this chapter for a taxable year for taxpayers whose Arizona adjusted gross income, plus the amount subtracted for exemptions under section 43-1023, is: 1. Twenty thousand dollars or less in the case of a married couple filing a joint return with no more than one dependent or a single person who is a head of a household with no more than one dependent. 2. Twenty-three thousand six hundred dollars or less in the case of a married couple filing a joint return with two dependents. 3. Twenty-seven thousand three hundred dollars or less in the case of a married couple filing a joint return with three dependents. 4. Thirty-one thousand dollars or less in the case of a married couple filing a joint return with four or more dependents. 5. Twenty thousand one hundred thirty-five dollars or less in the case of a single person who is a head of a household with two dependents. 6. Twenty-three thousand eight hundred dollars or less in the case of a single person who is a head of a household with three dependents. 7. Twenty-five thousand two hundred dollars or less in the case of a single person who is a head of a household with four dependents. 8. Twenty-six thousand five hundred seventy-five dollars or less in the case of a single person who is a head of a household with five or more dependents. 9. Ten thousand dollars or less in the case of a single person or a married person filing separately. B. The amount of the credit is equal to forty dollars for each person who is a resident of this state and for whom a personal or dependent exemption is allowed with respect to the taxpayer pursuant to section 43-1043 and 43-1023, subsection B, paragraph 1, but not to exceed: 1. Two hundred forty dollars in the case of a married couple filing a joint return or a single person who is a head of a household. 2. One hundred twenty dollars in the case of a single person or a married couple filing separately. 3. For any taxpayer, the amount of taxes due under this chapter for the taxable year. |
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