Arizona Industry and Employment

For decades, Arizona's industry could be summed up by The Five C's: Copper, Cattle, Cotton, Citrus, and Climate (tourism.) Today, the largest employer is the State of Arizona, while the largest private employer is Wal-Mart. Tourism remains fundamental to Arizona's economy but several high-tech and manufacturing companies are significant employers in the state. Here are some major corporations that have a major presence in Arizona:

  • Apollo Group
  • Allied Waste
  • Arizona Public Service
  • Avnet
  • Banner Health Systems
  • Best Western International
  • CSK Auto
  • Circle K
  • Cold Stone Creamery
  • Dial Corporation
  • Discount Tire Company
  • Fender Musical Instruments
  • Go Daddy
  • Harkins Theaters
  • Insight Enterprises
  • Intel
  • iCrossing
  • Jobing.com
  • Meritage Homes
  • Microchip Technology
  • ON Semiconducter
  • Peter Piper Pizza
  • PetSmart
  • P.F. Chang's China Bistro
  • TASER International
  • U-Haul
  • U.S. Airways
  • Viad Corporation
  • Westcor/Macerich Corporation

Arizona Economy and Taxes

Arizona has experienced a steady population growth of about 3.5 percent a year for more than a decade. But as the economy struggles to get back on its feet, the population growth is expected to drop to 1.7 percent, or by about 100,000 people in 2009. As the national unemployment rate continues to increase, Arizona, which was one of the states hit hard by the housing-market crises, is yet to determine the extent of its economic recession.

Despite the overall economic uncertainty, Arizona continues to grow. Arizona has already achieved recognition as one of the main players in the world economy in its short tenure as an offical state.

"With a gross state product of $247 billion, Arizona's economy ranks with Hong Kong and Switzerland, two of the world's leading financial hubs. Our productivity exceeds the oil-rich United Arab Emirates and 187 other nations. On the world stage, Arizona is a player."
Read full article on Arizona's economy

Take a look Jobs in Arizona

 

Personal Tax Structure in Arizona

For single and married filing separately taxpayers:

- 2.59 percent on the first $10,000 of taxable income
- 2.88 percent on taxable income between $10,001 and $25,000
- 3.36 percent on taxable income between $25,001 and $50,000
- 4.24 percent on taxable income between $50,001 and $150,000
- 4.54 percent on all taxable income more than $150,000.

 

For married persons filing joint returns and heads of households, the rates remain the same but the income brackets are doubled. Arizona income tax forms are due April 15, or the next business day if that date falls on a weekend or holiday. The law in Arizona requires a taxpayer to add certain items to Arizona gross income such as interest income from non-Arizona municipal bonds. There is no special treatment for capital gains. Capital gains included in your federal adjusted gross income are included in your Arizona gross income and are taxed at your regular tax rate.

 

Personal and Property Taxes in Arizona

- Tax jurisdictions set tax rates on the basis of the total assessed valuation within their boundaries and the amount of the levy to be raised. Total tax rates may vary considerably from one area to another.

- Owner-occupied residential properties are valued by local assessors using one of two methods: replacement cost new less depreciation or sales analysis. Each assessor selects which method to use based upon technical considerations such as the accuracy of each method for that area and the number of sales available for analysis. A brochure provides more details on the process.

- Arizona also taxes personal property, which is defined as all types of property except real estate. Taxable personal property includes property used for commercial, industrial and agricultural purposes. Personal property is considered to be movable and not permanently attached to real estate.

- Personal property taxes are due Oct. 1. If the tax amount is over $100, one-half is due Oct. 1 and the remainder is due the following March 1. One-half of the amount of the taxes that are unpaid is delinquent after Nov. 1 and the remaining half that is unpaid is delinquent after May 1. Read more about personal property taxes in a brochure from the Arizona Department of Revenue.

- In lieu of a personal property tax on automobiles, the state imposes an annual vehicle license tax, or VLT, which is based on an assessed value of 60 percent of the manufacturer's base retail price reduced by 16.25 percent for each year since the vehicle was first registered in Arizona. For additional information on this tax, please call the Arizona Department of Transportation, Vehicle License Division: (602) 255-0072 in the Phoenix area, (520) 629-9808 in the Tucson area and (800) 251-5866 elsewhere in Arizona.

Information provided by Bankrate.com