For single filers, the standard deduction increases from $5,312 to $12,000. For married filers, the standard deduction increases from $10,613 to $24,000. FACT: With this increase, Arizona’s standard deduction now matches the federal standard deduction for the first time in state history.
What is the AZ standard deduction for 2020?
$12,400
2020 Arizona Standard Deduction Amounts Adjusted $12,400 for a single taxpayer or a married taxpayerfiling a separate return; $24,800 for a married couple filing a joint return; and. $18,650 for individuals filing a head of householdreturn.
Are there any tax deductions for people in Arizona?
Using deductions is an excellent way to reduce your Arizona income tax and maximize your refund, so be sure to research deductions that you mey be able to claim on your Federal and Arizona tax returns. For details on specific deductions available in Arizona, see the list of Arizona income tax deductions .
When do the tax brackets change in Arizona?
Arizona effectively doubles tax bracket widths for married couples filing jointly, and there are additional benefits available for joint filers. As of January 2015, the Arizona tax brackets will be updated every year based on inflation as specified in the Consumer Price Index (CPI).
What is the state income tax rate in Arizona?
Arizona collects a state income tax at a maximum marginal tax rate of %, spread across tax brackets. Like the Federal Income Tax, Arizona’s income tax allows couples filing jointly to pay a lower overall rate on their combined income with wider tax brackets for joint filers.
What kind of tax return do I need for Arizona?
If claiming Arizona itemized deductions, individuals must complete and include Federal Form 1040, Schedule A, with an Arizona return. For the standard deduction amount, please refer to the instructions of the applicable Arizona form and tax year.
