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AK IRS 1065 2024 Form: What You Should Know

ARIZONA REACHES TAX TREATY LEVEL: Oct 13, 2024 — Arizona joins a global effort to limit the cost of government in the United Nations Educational, Scientific and Cultural Organization. ARIZONA TAX REFORM: 2017 Budget — A balanced Budget is on Track. FY2018 Budget — Proposed tax reductions and funding increases include: A 10.7 billion economic development program for education, training, and employment. A 6.2 billion community investments program. A 2.3 billion school funding increase. Proposed tax reform, increased sales tax to 5.5%, 1 more for every 1,000 of income. 2017 Budget — Proposed tax relief for tax filers including increasing the personal tax rate to 9.6%, increasing the sales tax to 6.5% and eliminating estate and gift tax altogether. Election Results — Democratic candidate for Arizona Governor, Doug Ducey, defeated Republican opponent, Paul Babel. Governor's Cabinet Nomination — Gov. Doug Ducey is now the fifth Governor to have a Cabinet full of Republicans. 2017 Budget — Gov. Doug Ducey proposed a 1.7 billion budget decrease, or about 90 million. It includes: 80 million in property tax relief. 80 million in new funds to expand job training and create new jobs. 18 million in new funds to improve education, health, infrastructure and housing in Arizona. The first tranche of the proposed changes goes into effect for 2017. 30 million for veterans grants, a reduction from its previous level of 85 million. 15 million for Arizona Department of Public Safety. This is an annual increase of 10 million starting in 2019, an increase of 15 million annually in 2020, 15 million annually in 2021, 15 million annually in 2022, 15 million annually in 2023, and 15 million annually in 2024. 6.2 billion in new public lands sales and other revenue. 2.1 billion in increased funding for transportation. The first tranche of the changes goes into effect for 2017. 1.7 billion in new public safety expenditures, including the hiring of over 5,000 emergency personnel. 2.

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