Arizona Revised Statutes - Title 43 Taxation of Income - Section 43-406 Extension of withholding to premature withdrawals of state and local government retirement contributions
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43-406. Extension of withholding to premature
withdrawals of state and local government retirement
contributions
For the purposes of this title and except for eligible rollover distributions
transferred to an eligible retirement plan pursuant to section 401(a)(31) of the internal
revenue code, amounts withdrawn from the state retirement system, the elected officials'
retirement plan or a county or city retirement plan by an employee upon termination of
employment prior to retirement shall be treated as if the withdrawn amounts are payment
of wages by an employer to an employee and shall be subject to withholding. The amount
withheld by the retirement plan or system at the time of withdrawal shall be equal to
five per cent of the total amount withdrawn.
Sections: 43-401 43-402 43-403 43-404 43-405 43-406 43-407 43-408 43-409 43-411 43-412 43-413 43-414 43-415 43-416
Last modified: February 20, 2012
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