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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. The seller/lessor may pass ...
Embossed black serial on copper plate with border line; "ARIZONA" at bottom, offset to left; vertical "1925" at right none: 1-12345 10-1234 Coded by county of issuance (1 or 10) First use of the full state name. 1926 Embossed black serial on white plate with border line; "ARIZONA" at bottom, offset to left; vertical "1926" at right none: 1 ...
Arizona has a transaction privilege tax (TPT) that differs from a true sales tax in that it is a gross receipts tax, a tax levied on the gross receipts of the vendor and not a liability of the consumer. [60] Vendors are permitted to pass the amount of the tax on to the consumer, but remain the liable parties for the tax to the state. [61]
Four counties (Mohave, Pima, Yavapai and Yuma) were created in 1864 following the organization of the Arizona Territory in 1862. The now defunct Pah-Ute County was split from Mohave County in 1865, but merged back in 1871. All but La Paz County were created by the time Arizona was granted statehood in 1912.
Location of Arizona. Arizona is a state in the southwestern region of the United States. The region's second-quarter 2018 gross state product was $344.6 billion, with growth driven by the information and manufacturing sectors. [1]
Arizona collects personal income taxes in five brackets: 2.59%, 2.88%, 3.36%, 4.24% and 4.54%. [7] 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 ...
TPT may refer to: TPT (software), Time Partition Testing; Transaction privilege tax, in Arizona, US; Twin Cities Public Television, Minneapolis–St. Paul, Minnesota, US; Tara Palmer-Tomkinson (1971–2017), English television personality; Tramway de Pithiviers à Toury, a French railway; Totul pentru tara, a Romanian fascist party 1935-1940
For example, Arizona's transaction privilege tax is a gross receipts tax on business. In the 1911 case of Flint v. Stone Tracy Co. , the United States Supreme Court upheld the constitutionality of a corporate income tax , determining that it was an indirect tax on the privilege of doing business as a corporation .