Staff Analysis of the Legislation
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This bill establishes a tax credit, capped at $400, for educational supplies and materials purchased by a K-12 schoolteacher and used in the teacher's classroom. A husband and wife who are both teachers and filing jointly may claim the tax credit separately. The bill also allows teachers to apply the remainder of their claim to future taxes for up to five tax years if the credit exceeds what is owed. Qualified expenses applied to this credit are to be accounted for when calculating Arizona's adjusted gross income. Contains a retroactive effective date of January 1, 2018. |
