Factoring Agreement General Formula In Maricopa
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Although commonly referred to as sales tax, TPT is differentiated from sales tax in most states in that it is a tax imposed on the seller, rather than on the purchaser. Therefore, it is ultimately the vendor, not the customer, who is liable to ADOR for TPT associated with taxable sales made in Arizona.
Chandler Transaction Privilege Tax & Use Tax Rates City/Town Name: Chandler City Code: CHBusiness CodeTax Rate Hotel/Motel (Additional Tax) 144 2.90% Residential Rental, Leasing & Licensing for Use 045 1.50% Commercial Rental, Leasing & Licensing for Use 213 1.50% Rental, Leasing & Licensing for Use of TPP 214 1.50%22 more rows
Accounting Credit The State of Arizona allows a credit for accounting and reporting expenses which results in a reduction of the amount of state tax owed. The accounting credit is applicable only to the state's transaction privilege tax and/or severance tax. The credit does not apply to city, county or other taxes.
The following tables contain the rates for Transaction Privilege and other taxes imposed by the State of Arizona, the counties, and 91 Arizona cities/towns: • Table 1 provides the tax rates which combine the state's transaction privilege tax rate of 5.6% and the county excise tax rate.
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.
Contractors engaging in taxable construction projects or activities are required to obtain a TPT license.
