Factoring Agreement General Form Calculator In Maricopa
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This applies to TPT licensees that are registered and have filed returns using business code 045 for engaging in the business classification of residential rental. Residential rental is the rental of real property for a period of 30 or more consecutive days for residential (i.e. noncommercial) purposes only.
The Arizona (AZ) state sales tax rate is currently 5.6%. Depending on local municipalities, the total tax rate can be as high as 11.2%.
Arizona originally adopted TPT in 1933 when the rate for selling tangible personal property at retail was 2 percent. That rate is currently 5.6 percent. On top of the state TPT, there may be one or more local TPTs, as well as one or more special district taxes, each of which can range between 0 percent and 5.6 percent.
It is, however, the tax on the privilege of doing business in Arizona and is not a true sales tax. The seller is liable for the tax but may pass the burden of the tax on to the purchaser. Taxes are remitted directly to the Arizona Department of Revenue at .aztaxes.
Contractors engaging in taxable construction projects or activities are required to obtain a TPT license.
Your reporting of factoring expenses as a deduction Commissions, set-up fees, and other factoring expenses are all tax deductible. But the reporting method differs depending on whether you retain the ownership of your receivables or end up selling them to a factoring company as described above.
