AZ State Lawmakers Hoping More Taxpayers Consider Charitable Donations

AZ State Lawmakers Hoping More Taxpayers Consider Charitable Donations

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Of note is the provision that took the standard deduction for single filers from $6,500 to the current $12,200; for couples filing jointly the change went form $13,000 to $24,400 now. The state, in its own changes to the tax code, followed suit.

The result is that many more individuals now choose not to itemize.

But the fallout, according to Brandy Petrone, a lobbyist for the Alliance of Arizona Nonprofits, was that without the financial incentive to give, donations dropped by $323 million.

Lawmakers sought to help last year with legislation to allow a 25 percent deduction for donations made by those who take the standard deduction. Now Rep. Ben Toma, R-Peoria, the sponsor of HB 2356, wants to double that.

Source Name: 
KAWC
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