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Transaction privilege tax (TPT) refers to a gross receipts tax levied by the state of Arizona on certain persons for the privilege of conducting business in the state. TPT differs from the "true" sales tax imposed by many other U.S. states as it is imposed upon the seller or lessor rather than the purchaser or lessee.
Sales taxes are imposed only on taxable transfers of goods or services. The tax is computed as the tax rate times the taxable transaction value. Rates vary by state, and by locality within a state. [5] Not all types of transfers are taxable. The tax may be imposed on sales to consumers and to businesses.
An aluminum sales tax token from the state of Washington, valued at 2 mills (1 ⁄ 5 cent) and good for the "tax on purchase of 10 cents or less" under the state's 2% retail sales tax law. The twelve states that issued these sales tax tokens were Alabama , Arizona , Colorado , Illinois , Kansas , Louisiana , Mississippi , Missouri , New Mexico ...
Arizona. Biggest source of tax revenue: Sales tax. Personal income tax revenue share: 21%. Sales tax revenue share: 64%. Other taxes revenue share: 15%. RoschetzkyIstockPhoto / Getty Images ...
Proposition 478 - Specific to Prescott, the measure proposes a 0.95% sales tax for public safety purposes within the city. If approved, the new tax will take effect on April 1, 2025, and reduced ...
The state transaction privilege tax is 5.6%; however, county and municipal sales taxes generally add an additional 2%. The state rate on transient lodging (hotel/motel) is 7.27%. The state of Arizona does not levy a state tax on food for home consumption or on drugs prescribed by a licensed physician or dentist.
e. Proposition 100 was a ballot measure to temporarily raise the Arizona state sales tax by 1 cent per dollar, with the proceeds going to education, public safety, and health and human services. The referendum was passed by voters in a special election on May 18, 2010. The measure amended Article IX of the Arizona State Constitution, raising ...
In her inaugural address, Brewer promised to keep taxes low in Arizona, in an attempt to attract business from other states, including California. Fewer than two months into her term, however, Brewer proposed a tax increase in front of the State Legislature, prompting Republican state Sen. Ron Gould to walk out of the address mid-speech. [12]
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