corporate income tax; minimum

HB 2629 amends Arizona's corporate income tax law to increase the minimum tax for corporations with 50 or more employees from $50 to $1,000. Smaller corporations (fewer than 50 employees) remain subject to the $50 minimum tax. The bill also updates the tax rate schedule for corporate income (e.g., lowering rates from 6.968% to 4.9% over time), but the primary change is the higher minimum tax for larger businesses. This amendment applies to taxable years beginning after December 31, 2026.