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You’ll have to pay state and local sales taxes on purchases made in Arizona. Each of these match the federal standard deduction. If you choose not to itemize on your Arizona tax return, you can claim the Arizona standard deduction, which is $12,950 for single filers and $25,900 for joint filers. Itemized deductions in Arizona track very closely to federal itemized deductions. For example, interest income from non-Arizona municipal bonds is taxable, and must be added to taxable income.įor the most part, however, calculating taxable income is a matter of subtracting deductions and exemptions from gross income. From here, there are a number of subtractions and additions made to calculate taxable income. The starting point for computing Arizona taxable income is federal adjusted gross income (AGI). Those rates apply to Arizona taxable income. Joint filers and heads of household will pay 2.55% for income under $57,305 and 2.98% for additional income above that.
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Single taxpayers and those married filing separately are taxed at 2.55% for income under $28,653 and 2.98% for all other income above that. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. In all, the effect of Arizona’s tax system varies depending on your specific financial circumstances.Ī financial advisor can help you understand how taxes fit into your overall financial goals. On the other hand, when considering both statewide and local taxes, the Grand Canyon State has the 10th-highest sales tax rate in the country. states, Arizona has below-average income and property tax rates, and it has the fifth-lowest gas tax rate in the nation. Gas tax: 18 cents per gallon of regular gasoline, 26 cents per gallon of dieselĪrizona has been one of the fastest growing states in recent years, as low taxes may have played a role in drawing people to the desert.
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