Resident Personal Income Tax Booklet – azdor.gov

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2 15
                                                                                                               Arizona Form
                                                                                                                     140
                                                                                                 Resident Personal
                                                                                                Income Tax Booklet
                                                                            Who can use Arizona Form 140?
              This Booklet Contains:                                        You, and your spouse if married filing a joint return, may file Form
                                                                            140 only if you are full year residents of Arizona.
              x Form 140 
                 Resident Personal Income Tax Return                        You must use Form 140 rather than Form 140A or Form 140EZ
                                                                            to file for 2015 if any of the following apply to you.
              x Form 140 Schedule A 
                                                                            x Your Arizona taxable income is $50,000 or more.
                 Itemized Deduction Adjustments
                                                                            x You received active duty military pay as a member of the U.S.
              x Form 204                                                     Armed Forces.
                 Extension Request
                                                                            x You received pay for active service as a reservist or a
                                                                              National Guard member.
  Where's my Refund?                                                        x You are making adjustments to income.
                                                                            x You itemize deductions.
       Check your refund status at
                                                                            x You claim tax credits other than the family income tax credit,
               www.AZTaxes.gov                                                the property tax credit or the credit for increased excise taxes.
                                                                            x You are claiming estimated payments.




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                                                                       CAUTION
The federal adjusted gross income that you use on your Arizona return may not    Legislature will adopt all federal law changes made after January 1, 2015.
be the same as the federal adjusted gross income from your federal tax return.   If you use the amounts from your 2015 federal tax return to complete your
Also, the federal Schedule A deductions used on the Arizona return may be        Arizona return and the Legislature does not adopt the 2015 federal changes,
different from the federal Schedule A deductions taken on your federal return.   you may have to amend your return at a later date for any difference between
                                                                                 Arizona and federal law. For more details, visit www.azdor.gov and click on
Each year the Arizona State Legislature considers if they will adopt changes
                                                                                 the link for 2015 conformity.
made to the federal tax law during the prior year. These forms assume the
                                                Notice
As a rule, the starting point for your Arizona return is your federal adjusted gross income. To take itemized
deductions, you must start with the amount shown on the federal Schedule A. This is the case for 2015,
except for changes Congress made to the federal tax code during 2015 and the following apply.

1. The changes affect how you figure your federal adjusted gross income.
    AND/OR
2. The changes affect how you figure your itemized deductions.

When federal changes are made, Arizona legislature must adopt those changes if the Arizona starting points
are to be kept the same. The legislature will address this issue when it is in session during 2016. We must
publish these forms before this issue will be addressed by the legislature. When we went to print, Arizona had
not yet adopted any federal tax law changes made after January 1, 2015.

What does this mean to you? It means that if any of the federal law changes made in 2015 apply to
your 2014 return, you can opt to file your 2015 return using one of the following methods.

1. You can wait and file your 2015 return after this issue has been addressed.

    x   To do this, you may need to ask for a filing extension. You must pay 90% of the tax due by the due
        date of the return before any extension.

2. You can file your 2015 return assuming that the federal law changes will be adopted. The 2015 tax forms
   make this assumption.

    If you opt for method 2, one of the following will apply.

    x   If Arizona adopts those changes, you do not have to do anything more.
    x   If Arizona does not adopt all those changes, you may need to amend your 2015 Arizona return. Your
        amended return will have to show the difference between the Arizona law and the federal law. If this
        happens, we will post more details on our Conformity to IRC webpage. To view this page go to
        http://www.azdor.gov and click on Legal Research on the left side, then click on Conformity to
        IRC. Generally, no penalties or interest will be assessed on these amended returns, if you follow
        the Department's instructions and pay any tax due when you file your original 2015 return and
        you file and pay the required amended return by the extended due date of your 2016 return.

3. You can file your 2015 return assuming that we will not adopt the federal law changes. If you opt for this
   method, you will have to do the following.

    x   You will have to research all of the federal changes made after January 1, 2015.
    x   You will have to figure out if any of those changes apply to you.
    x   You will have figure out how to make adjustments for those changes on your return.

    If you opt for method 3, one of the following will apply.

    x   If Arizona does not adopt those changes, you do not have to do anything more.
    x   If Arizona adopts those changes, you may need to amend your 2015 Arizona return. Your amended
        return will have to show the difference between what you reported and what you should have
        reported. If this happens, we will post more details on our Conformity to IRC webpage. To view this
        page go to http://www.azdor.gov and click on Legal Research on the left side, then click on
        Conformity to IRC.
Individual Income Tax - Items of Interest                                                                        2015
2015 Individual Income Tax Brackets Adjusted for               support of standardized testing fees for college credit or
Inflation                                                      readiness offered by a certain educational testing
For 2015, the individual income tax brackets have been         organizations, (2) the technical education industry
adjusted for inflation.                                        certification assessment, (3) preparation courses, and (4)
                                                               materials for standardized testing.        These types of
2015 Arizona Standard Deduction Indexed for                    contributions or fees paid must be made or paid directly to
Inflation                                                      the public school to qualify for the credit. If made to the
The Arizona standard deduction was indexed for inflation,      third-party conducting the testing, etc., the amount of
for 2015. For a single taxpayer or a married taxpayer filing   contribution or fess paid does not qualify for this credit.
a separate return the amount is $5,091. For a head of          For more information, see Form 322.
household or a married couple filing a joint return the
                                                               Credit for Contributions to Private School Tuition
amount is $10,173.
                                                               Organizations Indexed for Inflation (Arizona Form
The portion of Net Long-Term Capital Gain from                 323)
Assets acquired after December 31, 2011 that may
                                                               For 2015, the amount of the allowable credit for
be subtracted increased for 2015
                                                               contributions to private school tuition organizations was
The portion that may be subtracted has increased for           adjusted for inflation purposes. The maximum credit for
taxable year 2015. The subtraction is equal to 25% of the      single taxpayers or heads of household is $535. For
net long-term capital gain from assets acquired after          married taxpayers that file a joint return, the maximum
December 31, 2011 and included in federal adjusted gross       credit is $1,070.
income.
                                                               Credit for Qualified Health Insurance Plans (Arizona
Credit for Increased Excise Taxes                              Form 347)
Beginning 2015, a taxpayer who claims a credit for
                                                               The laws providing for the qualified health insurance plans
increased excise taxes must have a social security number
                                                               credit were repealed effective from and after December 31,
(SSN) issued by the internal revenue service (IRS) and is
                                                               2014. Form 347 is now available only for claiming unused
valid for employment. If a taxpayer also claims a credit for
                                                               credits carried forward from prior years.
a spouse and/or qualifying children, the taxpayer's spouse
and/or qualifying children must have either a SSN or an        Credit for Contributions Made to Certified School
individual taxpayer identification number (ITIN) issued by     Tuition Organization Indexed for Inflation (Arizona
the IRS. For more information, see the department's            Form 348)
brochure, Pub. 709.                                            For 2015, the amount of the allowable credit for
Credit for Contributions made to a Qualifying                  contributions to a certified school tuition organization was
Charitable Organization (Arizona Form 321)                     adjusted for inflation purposes. The maximum credit for
                                                               single taxpayers or heads of household is $532. For
Recent legislation expanded the qualifying foster care
                                                               married taxpayers that file a joint return, the maximum
charitable tax credit portion of this credit to include
                                                               credit is $1,064.
donations made to a qualifying foster care organization that
provides services to persons under 21 years of age in a        Expanded     Credit  for   Renewable    Energy
transitional independent living program.                       Investment and Production for Self-Consumption
                                                               by Manufacturers and International Operations
Credit for Contributions Made or Fees Paid to
                                                               Centers (Arizona Form 351)
Public Schools (Arizona Form 322)
                                                               Recent legislation expanded the nonrefundable corporate
The laws providing for a credit for contributions made or
                                                               and individual tax credit for investment in new renewable
fees paid to a public school by a taxpayer or on behalf of a
                                                               energy resources that produce energy for self-consumption
taxpayer has been amended to allow a taxpayer to claim a
                                                               using renewable resources if the power will be used primarily
credit for contributions made or fees paid on or before the
                                                               for manufacturing.
fifteenth day of the fourth month following the close of the
taxable year on either the current taxable year or the         For taxable years beginning from and after December 31,
preceding taxable year and is considered to have been made     2014, the credit is allowed if the power is used for an
on the last day of that taxable year.                          International Operations Center. For more information, see
                                                               Arizona Form 351.
For example, a taxpayer who files a 2015 calendar year end
tax return may claim qualifying contributions made or fees     New Credit for Business Contributions by an S
paid between January 1, 2016 and April 15, 2016, on either     Corporation to School Tuition Organization -
the 2015 or 2016 income tax return.                            Individual (Arizona Form 335-I)
Recent legislation also expanded the credit to include         Beginning from and after December 31, 2014, Arizona law
contributions made or fees paid for the following (1)          allows an individual shareholder to claim a nonrefundable
Individual Income Tax - Items of Interest, cont.                                                                    2015
tax credit for the pro rata amount of qualifying                   Voluntary Gifts to the National Guard Relief Fund
contributions made by an S corporation to a school tuition         Recent legislation repealed the National Guard Relief Fund.
organization. The amount of the allowable credit is based          Therefore, taxpayers can no longer make a voluntary gift to
on individual's ownership interest. The S corporation must         the National Guard Relief Fund on their income tax return.
make an irrevocable election to pass the credit through to
its individual shareholders on Arizona Form 335. For more          Disaster Recovery Tax Relief
information see Arizona Forms 335 and 335-I.                       Starting January 1, 2015, a qualifying out-of-state business
                                                                   or a qualifying out-of-state employee that is in Arizona on a
New Credit for Business Contributions by an S
                                                                   temporary basis solely for performing disaster recovery
Corporation to School Tuition Organization for
                                                                   from a declared disaster during a disaster period, are
Displaced Students or Students with Disabilities -
                                                                   exempt from certain Arizona taxes. For more information,
Individual (Arizona Form 341-I)
                                                                   see the department's brochure, Pub. 720.
Beginning from and after December 31, 2014, Arizona law
allows an individual shareholder to claim a nonrefundable
tax credit for the pro rata amount of qualifying
contributions made by an S corporation to a school tuition
organization for Displaced Students or Students with
Disabilities. The amount of the allowable credit is based on
individual's ownership interest. The S corporation must
make an irrevocable election to pass the credit through to
its individual shareholders on Arizona Form 341. For more
information see Arizona Forms 341 and 341-I.




                                                               2
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                                                                                                                       ona Form
                                                                                                                              m
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  15 Reside
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                           me Tax Return
                                  R                                                                                      140
For information or help, ca      all one of the numbers  s             Do Y
                                                                          You Have to File?
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                                            02) 255-3381                           Arizzona Filing RRequirements s
                                                                             These ruless apply to all Arizona tax
                                                                                                                 xpayers.
Fromm area codes 520 and 928, toll
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                                            00) 352-4090
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go to the departmen
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                                  w             ov.                                            at least:
                                                                        x    Single            $ 5,500              $15,0
                                                                                                                        000
Income Tax Proc    cedures and Rulings
                                                                        x    Married filing
                                                                                          g
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                                  t department   t's income taxx                               $11,000              $15,0
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Publications and   d Brochures                                          If y
                                                                           you are an Ar  rizona residen
                                                                                                       nt, you must rreport income
To viiew or print the department'ss publications and brochures,
                                                              ,         from
                                                                           m all sources in
                                                                                          ncluding out-o
                                                                                                       of-state income
                                                                                                                     e.
go to our website annd click on Pub
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    x      Accurate e                                                   Inco
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                                                                        x interest from U.S. Governm    ment obligations,
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                                                                        x social security ty retirement bbenefits receive
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No m more paper, mat th errors, or maailing delays if
                                                    f you e-file!
                                                                             II of the Socia
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Get yyour refund qui icker with direcct deposit.                        x benefits recei  ived under the Railroad Retirement Act, or
E-filee today, pay by
                    b April 18, 2016,
                                    2       to avoidd penalties andd    x pay received    d for active seervice as a m member of the
intereest.                                                                   Reserves, Nat tional Guard or the U.S. Armmed Forces.
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usingg your personal l computer and d the Internet.                     You u can find youur Arizona adju
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                                                                            ine 42 of Arizo
                                                                                          ona Form 140.
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                                                                            urn to get a ref
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                                                                                                        rizona income t  tax withheld.
www  w.azdor.gov.
                                                                       Do You Have to File if Y
                                                                                              You Are an
                                                                                                       n American
                                                                                                                n
Who
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           e Form 140
                    0?                                                 Indi an?
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                                                   eturn) may file
                                                                 e     You must file if y  you meet the Arizona filing requirement   ts
Form
   m 140 only if   f both of you  u are full yea  ar residents off     unles
                                                                           ss all the follow
                                                                                           wing apply to yyou:
Arizo
    ona.                                                               x Y You are an enr  rolled member of an Indian trribe.
You must use For   rm 140 rather than Form 140A   1       or Form
                                                                m      x Y You live on the               established for that tribe.
                                                                                           e reservation e
140EZ to file for 20
                   015 if any of th
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                                                                                                         me on that reserrvation.
x Y Your Arizona taxable income is $50,0           000 or more,   ,    The department h has issued a ruling on th    he Arizona tax
                                                                                                                                  x
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    regardless of filing status.                                       treatm
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                                                                                                                      TR 96-4.
x Y You are making  g adjustments to
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x Y You itemize de eductions.                                          Ame erican India
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                                                                                          sued Income TTax Ruling, IT TR 96-4, on the
x Y You are claimin ng estimated payments.                             tax tr
                                                                            reatment of spoouses of Amer
                                                                                                       rican Indians.
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