Arizona Form 306, known as the Military Reuse Zone Credit, is a nonrefundable income tax credit available to taxpayers who create net increases in full-time employment within a designated Military Reuse Zone. This credit is specifically intended for businesses that hire employees engaged primarily in aviation or aerospace services, or in the manufacturing, assembling, or fabricating of aviation or aerospace products.
Eligibility and Credit Details
- The credit applies to net increases in full-time employment positions.
- Employment must be primarily in aviation/aerospace-related industries.
- The credit is available for both individual and corporate taxpayers.
- Taxable year 2017 was the last year a taxpayer could establish this credit. The unused portion of valid Military Reuse Zone credits may be carried forward for the remainder of the five‑year carry forward period.
Application and Assistance
- Application forms and program guidelines are available through the Arizona Commerce Authority at www.azcommerce.com.
- For tax forms and instructions, contact the Arizona Department of Revenue at www.azdor.gov.
- Taxpayer assistance is available by calling (602) 255-3381 or toll-free from area codes 520 and 928 at (800) 352-4090.
Source:
Arizona Form 306 - Military Reuse Zone Credit (2022)
Disclaimer: Always verify details with the official Federal or State Department of Revenue Forms and Instructions. This information is for general guidance and may not apply to your specific situation. For complex tax matters, consult a CPA or tax attorney.