Factoring Agreement Form For Car In Arizona

State:
Multi-State
Control #:
US-00037DR
Format:
Word; 
Rich Text
Instant download

Description

A factor is a person who sells goods for a commission. A factor takes possession of goods of another and usually sells them in his/her own name. A factor differs from a broker in that a broker normally doesn't take possession of the goods. A factor may be a financier who lends money in return for an assignment of accounts receivable (A/R) or other security.

Many times factoring is used when a manufacturing company has a large A/R on the books that would represent the entire profits for the company for the year. That particular A/R might not get paid prior to year end from a client that has no money. That means the manufacturing company will have no profit for the year unless they can figure out a way to collect the A/R.

This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

Free preview
  • Preview Factoring Agreement
  • Preview Factoring Agreement
  • Preview Factoring Agreement
  • Preview Factoring Agreement
  • Preview Factoring Agreement
  • Preview Factoring Agreement
  • Preview Factoring Agreement

Form popularity

FAQ

Are services taxable in Arizona? Arizona has a transaction privilege tax (TPT) that operates similarly to sales and use tax in other states. Some professional services, amusement/entertainment services, and services to tangible personal property are taxable in Arizona.

Common sales tax exemptions include: Professional or personal services where the sale of tangible personal property constitutes an inconsequential element. Services rendered in addition to the sale of tangible personal property at retail.

Maintenance, Repair, Replacement and Alteration construction activities, collectively referred to as MRRA activities, are specifically excluded from the prime contracting classification. MRRA activities entail contracting activities on existing property.

Prime Contractor's Certificate The purpose of this form is to provide a subcontractor with the validation required for tax exemption of a particular project, for a period of time, or until revoked.

Contractors engaging in taxable construction projects or activities are required to obtain a TPT license.

The purpose of the Certificate is to document and establish a basis for state and city tax deductions or exemptions. It is to be filled out completely by the purchaser and furnished to the vendor at the time of the sale.

Arizona Form 140 is for full year residents only. You may not file a joint income tax return on Form 140 if any of the following apply: Your spouse is a nonresident alien (citizen of and living in another country). Your spouse is a resident of another state.

How does the transaction privilege tax (TPT) apply to prime contracting? The TPT is imposed on the business activity of performing contracting work as a prime contractor. The tax base is sixty-five percent of the gross receipts derived from the business.

Trusted and secure by over 3 million people of the world’s leading companies

Factoring Agreement Form For Car In Arizona