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  • Taxpayers with Limited Income May Be Eligible for State Tax Credits

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    March 15, 2021

    Taxpayers with Limited Income May Be Eligible for State Tax Credits

    Arizona provides tax credits to taxpayers whose income is below a certain threshold and who are not required to file an individual income tax return. Individuals may be eligible for state tax benefits by submitting two forms available through the Arizona Department of Revenue - Form 140PTC Property Tax Refund Claim or Form 140ET Credit for Increased Excise Taxes.

    These credits aim to provide low-income individuals and seniors with financial assistance in the form of tax relief.

    • Form 140PTC is used by qualified seniors to claim a refundable income tax credit for taxes paid on property located in Arizona that is either owned by or rented by the taxpayer. Additionally, taxpayers under age 65 who receive Supplemental Security Income (SSI) can file Form 140PTC. Form 140PTC provides a tax credit of up to $502. To claim a property tax credit, you must file your claim or extension request by April 15, 2021. An extension will give you until October 15, 2021 to file the claim for this credit.
    • Form 140ET is used by individuals not required to file an Arizona individual income tax return but qualify to claim the refundable excise tax credit. The increased excise tax credit allows a credit of $25 per individual with a maximum credit of $100 per household.

    Individuals not filing an income tax return and claiming both credits only need to complete Form 140PTC.  However, individuals not submitting a tax return and not claiming the property tax credit must complete Form 140ET to claim the credit for increased excise taxes. Taxpayers who do not file an income tax return cannot electronically file Form 140PTC or Form 140ET and must mail these forms to the department using the address provided on the form.

    To determine eligibility for either Form 140PTC or Form 140ET, see form instructions at www.azdor.gov/Forms/Individual.

    Taxpayers should remember to not staple any documents, schedules, or payments to the return. Additionally, check for math errors and sign the return.