The following changes have been made by Arizona for the 2023 tax year.
2023 Arizona Standard Deductions Adjusted
The 2023 Arizona standard deduction amounts are:
- $13,850 for a single taxpayer or a married taxpayer filing a separate (MFS) return;
- $27,700 for a married couple filing a joint return (MFJ);
- $20,800 for individuals filing a head of household return (HoH).
Virtual Currency and Non-Fungible Tokens Received at the Time of Airdrop can be Subtracted from Income
If not already excluded from the Arizona gross income under the internal revenue code, the value of virtual currency and non-fungible tokens received at the time of airdrop can be subtracted from Arizona state income.
Gas Fees or Non-Fungible Token Basis can be Subtracted from Income
Gas fees not already included in the taxpayer's virtual currency or non-fungible token basis can be subtracted from Arizona state income.