Arizona small businesses applaud low, single state income tax rate

YUMA, Ariz. (KYMA, KECY) - The Arizona state director for National Federation of Independent Businesses (NFIB) says Arizona is now ready to weather economic headwinds.

Accordingly, this comes from a new report that showed little change from the readings nine months ago.

However, Chad Heinrich, NFIB Arizona's state director, still remains optimistic about Arizona's economic future.

“Our small businesses will now pay a single, 2.5% income tax rate on all their business income in the new year. This rate reduction and simplification will help all small business owners through what looks to be a tough year with a possible recession and economic downturn on the horizon. It will be good to have the lowest single rate income tax in the nation to subdue the upcoming economic headwinds.

If you want to read more from the NFIB, then click here.