Luckily, the state of Arizona has been able to dodge a big tax threat by implementing an ongoing series of tax reforms. As such, the state’s economy continues to expand. In fact, Arizona is on track to add nearly 325,000 jobs in the next three years.Florida Tax Debt Relief
Governor Doug Ducey’s proposed plan aims to reduce commercial property taxes, thereby preserving Arizona’s competitiveness. Ultimately, this means the state can continue to invest in things that matter. Specifically, it means maintaining a strong economy while keeping up with other states that have taken advantage of the federal windfall.
The quality jobs program is another laudable tax credit that aims to stimulate business investment in the Phoenix region. Under this program, qualifying businesses can receive $3,000 for each new qualified employment position that they create.
A similar program, the Arizona Charitable Tax Credit, enables donors to claim a dollar-for-dollar credit for their donations to qualifying charities. The program was originally created as part of the Tax Reform Act of 1986.
-
The same program is also available to individuals. This is the cheapest tax relief you can find in the state. For a single individual with a $2,000 tax liability, donating $400 will reduce that debt to just $1,600.
-
A similar tax relief is offered by the Arizona Department of Revenue. This program is also designed to help taxpayers who are unable to pay their taxes in full. It is a little different than the IRS’s version, though. Instead of paying the full amount, Arizona residents can claim tax credits over a five-year period.
-