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Historic tax reform will help Arizona small businesses and schools

Jul 28, 2021 by AFP

In November 2020, Arizona voters narrowly approved a ballot initiative, Proposition 208, that called for a 3.5 percent income tax surcharge on individual and small business taxpayers who earn more than $250,000 a year. According to Americans for Prosperity – Arizona State Director Stephen Shadegg, there were two problems with this measure. First, it would damage entrepreneurship and small business development by raising the state’s top marginal income tax rate to 8 percent. That rate would have been higher than all states neighboring Arizona — except California, which has been…

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