Arizona's Small Business Income Tax (SBI) is a new tax that allows individual taxpayers to report their small business income on a separate return at a flat 3.0% tax rate for tax year 2022.
Beginning with tax year 2021, a taxpayer may elect to file a separate small business income tax return (Form 140-SBI, 140NR-SBI or 140PY-SBI) to report the their share of Arizona small business gross income. The SBI tax return must be filed with the regular income tax return to be accepted.
The most common Arizona income tax form is the Arizona form 140. This form is used by residents who file an individual income tax return. This form should be completed after filing your federal taxes, using Form 1040. A full list of Arizona forms can be found here: .
Income Tax Filing Requirements Individuals must file if they are:AND gross income is more than: Single $14,600 Married filing joint $29,200 Married filing separate $14,600 Head of household $21,900
Arizona's Small Business Income Tax (SBI) is a new tax that allows individual taxpayers to report their small business income on a separate return at a flat 3.0% tax rate for tax year 2022.