Neither.
Arizona recognizes all other states valid permits:
This state and any political subdivision of this state shall recognize a concealed weapon, firearm or handgun permit or license that is issued by another state or a political subdivision of another state if both:
1. The permit or license is recognized as valid in the issuing state.
2. The permit or license holder is all of the following:
(a) Not a resident of this state.
(b) Legally present in this state.
(c) Not legally prohibited from possessing a firearm in this state.
For the purpose of establishing mutual permit or license recognition with other states, the department of public safety shall enter into a written agreement if another state requires a written agreement.
Notwithstanding the provisions of this section, a person with a concealed weapons permit from another state may not carry a concealed weapon in this state if the person is under twenty-one years of age or is under indictment for, or has been convicted of, a felony offense in any jurisdiction, unless the person's rights have been restored and the conviction is expunged, set-aside or vacated and the applicant is currently not a prohibited possessor under state or federal law.