Here is a good reading material to let you in on the various Arizona State taxes that pertain to visitors and residents of the state of Arizona. Know that the details of Arizona State taxes can be found out in their official website. However, you will see a summarized Arizona State taxes and descriptions that you need to know right here.
For residents of the state, one of the most essential Arizona State taxes that you have to be aware of is the income tax rates. The income tax rates are broken down into five categories ranging from 2.73 percent to 4.79 percent. Below is the breakdown of the five categories and their rates.
For single and married filing separately:
• 2.73% on the first $10,000 of taxable income
• 3.04% on taxable income between $10,001 and $25,000
• 3.55% on taxable income between $25,001 and $50,000
• 4.48% on taxable income between $50,001 and $150,000
• 4.79% on all taxable income over $150,000.
On the other hand, the joint returns filed by married couples have the same rates with income brackets doubled. For married persons filing joint returns and heads of households, the rates remain the same but the income brackets are doubled. The usual due date of filing income tax returns is every 15th of April. However, the date may change if it falls on a weekend or on a holiday.
At the same time, some extra days are provided by federal lead. To find out the latest due date for the current tax year, you may visit the official website of the Arizona State taxes. The state law of Arizona requires the taxpayer to include additional items to the Arizona gross income. This includes interest income from non-Arizona municipal bonds.
Capital gains are also included and should be taxed. For residents and visitors of the state, an important Arizona State taxes that we deal with every time is the sales tax. The sales and use tax in the state are generally at 5.6 percent. Food for home consumption and prescription drugs are not charged with taxes. However, there are some cities in the state that charge Arizona State taxes for these two purchases.
Incorporated municipalities charge transaction privilege taxes ranging from 1 to 3 percent with the exception of the hotel or motel taxes. To check other information on such, you may visit their official website. Note that Arizona State taxes include personal and real property taxes. However, the inheritance or gift taxes are not levied and there is only limited Arizona estate tax. Intangible personal property taxes are not levied as well.