Incentives Offered by Other Agencies
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Additional Depreciation
Accelerates depreciation schedules for prospective acquisitions of commercial personal property. Depreciation schedules for most equipment classes provide for depreciation down to 2.5% of original value, thus virtually eliminating the tax liability. Recent legislation further improved this program to help companies recover their investments even faster.
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Foreign Trade Zone
Businesses, located in a zone or sub-zone are eligible for up to an 80 percent reduction in state real and personal property taxes.
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Health Insurance Premium
A tax credit is available to a health care insurer for insuring individuals and small businesses who were not previously covered by health insurance.
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Lease Excise
All real property tax has been waived and replaced with an excise tax that is an established rate per square foot and based upon the type of use.
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Pollution Control Tax Credit
Provides a 10 percent income tax credit on the purchase price of real or personal property used to control or prevent pollution.
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Renewable Energy Production Tax Credit
An income tax credit awarded to utility-scale generation systems based on the amount of electricity produced annually for a 10-year period using solar or wind energy. Questions can be directed to Georganna Meyer (602-716-6927) or Elaine Smith (602-716-6924).
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Sales Tax Exemption for Machinery and Equipment
Exemptions are available for:
- Machinery or equipment used directly in manufacturing, see ARS 42-5159(B)(1).
- Machinery, equipment or transmission lines used directly in producing or transmitting electrical power, but not including distribution, see ARS 42-5159(B)(4).
- Machinery or equipment used in research and development, see ARS 42-5159(B)(14).
Questions can be directed to Christie Comanita (602-716-6791).
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Solar Liquid Fuel Tax Credit
Income tax credits are available for research and development, production and delivery system costs associated with solar liquid fuel. Questions can be directed to Georganna Meyer (602-716-6927) or Elaine Smith (602-716-6924).
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