Arizona lawmakers are meeting today to discuss changes to the federal tax code that could affect your state tax return. Arizona is one of several states yet to adopt the changes made as part of the federal tax reform enacted nearly a year ago.
Those changes include limits on some deductions while nearly doubling the standard deduction. That would affect taxpayers federal adjusted gross income, which Arizona uses to calculate state taxable income.
If the state doesn't conform to the federal changes, it would mean many Arizonans will pay higher state taxes, offsetting any savings from the federal tax cuts.