The bill amends section 43-1111 of the Arizona Revised Statutes, which pertains to corporate income tax. The primary changes include the clarification of the tax rate percentages, replacing the word "per cent" with "percent" for consistency. Additionally, the bill introduces a new provision stating that corporations with fifty or more employees, which are not exempt from tax, will have a minimum tax amount set at $1,000, regardless of their taxable income.

Overall, the bill simplifies the language regarding tax rates and establishes a minimum tax threshold for larger corporations, which is a significant shift from the current law that does not specify a minimum tax for corporations based on employee count.

Statutes affected:
Introduced Version: 43-1111