SB1092 is a bill that proposes amendments to the Arizona Revised Statutes relating to the taxation of income from foreign and virtual currency transactions. The bill allows individual and corporate taxpayers to adjust their Arizona gross income by subtracting any net capital gains and adding any net capital losses derived from foreign or virtual currency transactions, starting from the taxable year 2025. The bill defines "foreign currency" as the legal tender coin and paper money of a country other than the United States, and "virtual currency" as a digital representation of value that functions as a medium of exchange, unit of account, and store of value, other than the U.S. dollar or foreign currency. The bill's effective date is the general effective date, and the fiscal impact is unquantifiable but expected to reduce state General Fund revenue starting in FY 2026.

Statutes affected:
Introduced Version: 43-1021, 43-1022, 43-1121, 43-1122, 43-1333, 99-514, 43-1084, 43-1081.01, 43-1074.02, 43-1029, 15-1871, 43-1024, 101-336, 43-1014, 43-1082, 43-1028, 43-1023, 15-1628, 15-1451, 43-1025, 43-1027, 111-5, 111-92, 41-1518, 43-1042, 20-1691, 6-101, 43-961, 43-1129, 43-1130, 43-1201, 43-947, 43-1170, 43-1130.01, 43-1175, 43-1178, 43-1183, 43-1184, 43-1124, 43-1181, 43-1165
Senate Engrossed Version: 43-1021, 43-1022, 43-1121, 43-1122, 43-1333, 99-514, 43-1084, 43-1081.01, 43-1074.02, 43-1029, 15-1871, 43-1024, 101-336, 43-1014, 43-1082, 43-1028, 43-1023, 15-1628, 15-1451, 43-1025, 43-1027, 111-5, 111-92, 41-1518, 43-1042, 20-1691, 6-101, 43-961, 43-1129, 43-1130, 43-1201, 43-947, 43-1170, 43-1130.01, 43-1175, 43-1178, 43-1183, 43-1184, 43-1124, 43-1181, 43-1165