A sharp drop in corporate tax payments could be starting to weigh on the Arizona treasury.
A report from the Legislature’s budget analysts shows December’s $68 million in corporate tax collections was 46 percent lower than the previous year.
Former Governor Jan Brewer had championed a nearly 30 percent cut in corporate taxes and other tax cuts that were phased in starting in 2014.
The state will sacrifice an estimated $538 million annually by 2018.
