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The imposition of Arizona city privilege taxes is separate and distinct from the imposition of state TPT. The League of Arizona Cities and Towns created the Model City Tax Code (MCTC) [6] for the purposes of imposing and administering city taxes. All Arizona cities utilize the MCTC in the imposition of their privilege and use taxes.
For 2025, the IRS has adjusted income tax brackets to accommodate rising wages. The 37% top tax rate applies to singles earning over $626,350 and married couples earning over $751,600 (an increase ...
The Arizona Joint Legislative Budget Committee released October projections on Nov. 20 that revealed $1.31 billion in “general fund collections” during the month, which was an over 26% uptick ...
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.
That Business Privilege Tax rate increased from 4% to 5% effective June 1, 2018. It was originally expected to be changed back to 4% on October 1, 2018, when Guam anticipated enacting a 2% sales and use tax. That bill was repealed, and the expiration of the reduced Business Privilege Tax rate was repealed, leaving the 5% rate in effect.
The federal corporate tax rate of 21% is also set to be central in the coming debate. Trump is pushing for a lower rate of 15%. Harris supports pushing it up to 28%.
A privilege tax is a tax levied in exchange for a privilege or license granted to the taxpayer. The fee for registering a motor vehicle is one example of a privilege tax. Many taxes on businesses are characterized as privilege taxes. For example, Arizona's transaction privilege tax is a gross receipts tax on business. In the 1911 case of Flint v
The Arizona Legislature passed several new laws in 2023. ... Those who claimed the dependent child tax credit on their 2021 tax return and paid at least $1 in income tax to the state in 2019, 2020 ...