Governor Brewer today signed SB 1046, a bill that allows companies that do business in multiple states to choose their corporate income tax formulas. For companies based in Arizona but providing services in other states, it will mean big savings.

“I appreciate the Governor’s signature on this bill, and I appreciate Senator Murphy for coming forward with SB 1046. This Legislature has been working hard to make the state more attractive to business, and this new law is a big part of that push,” says President Steve Pierce.

This bill has been a priority for the Apollo Group, the parent of University of Phoenix. Apollo is based in Phoenix and has 13,000 employees.

“A few years ago the legislature made a tax change to help manufacturers that export products.

This bill will now provide the same benefits to companies that don’t make products but instead offer services,” says President Pierce.