Are you sitting down???

By -

Centralized Licensing and Reporting of Transaction Privilege Tax (TPT) Begins Jan. 1


Effective January 1, 2017, the Arizona Department of Revenue (ADOR) will become the single point of administration and collection of transaction privilege tax (TPT). The transition to centralized licensing, reporting and payment of state and city TPT to ADOR begins with the January 2017 tax return which is due in February. When filing the January 2017 TPT return in February 2017, all activity needs to be filed on a single return with ADOR regardless of where the taxable activity is located in Arizona. Previously, businesses may have filed two or more TPT returns, one with ADOR and another with the city or cities where their taxable activity occurred. It is important to note that if a business that needs to file TPT returns has an outstanding balance for tax periods prior to their January 2017 activity, those returns and payments must be filed and paid directly with the city where the business had taxable activity.

Taxpayers will experience standardized business and deduction codes across all jurisdictions. To ease with the transition to ADOR, the department has prepared deduction code bridges linking the local codes with the standardized state codes. The department also provides a list containing all the city privilege tax rates and city codes for all cities as well as a combined list of the state's transaction privilege tax rate and the excise tax rate for all counties. ADOR is administering the TPT license renewal for all jurisdictions for calendar year 2017 and sent out notices to all affected taxpayers. Taxpayers are encouraged to register and pay online at AZTaxes.gov if they have not received their notices from the department. The due date for license renewals is January 1, 2017.

ADOR strongly encourage businesses to use AZTaxes.gov and register to file and pay online. AZTaxes.gov offers online filing and payment of TPT. Taxpayers who use AZTaxes.gov will experience greater customer convenience and other benefits, including automatic linking of tax rates and codes, auto-calculation of the return, confirmation of filed returns and the ability to view, save or print a copy of a filed return. Additionally, once registered, businesses can also update their accounts online which eliminates the need to call or mail a paper form. ADOR is constantly adding enhancements to AZTaxes.gov to increase available online services for the department.

For more information:  https://www.azdor.gov/News/tabid/74/newsid530/732/Centralized-Licensing-and-Reporting-of-Transaction-Privilege-Tax-TPT-Begins-Jan-1/Default.aspx?utm_medium=email&utm_source=govdelivery



Comments

Post a Comment

Popular posts from this blog

The VA’s billion dollar boondoggle

By -
Image
A long-planned Veterans Affairs hospital being built in Denver, already hundreds of millions of dollars over its $604 million budget, has turned into a billion-dollar boondoggle for the agency. The contractor, Kiewit-Turner, blames the VA for ignoring agreements to submit plans that can be built within budget and has asked a federal board overseeing civilian contract disputes to let the company walk away from the job. Problems with the building emerged in January, when letters between the builder and the VA revealed the project to be running some $200 million over budget, with Kiewit-Turner blaming a pricey design that was only partially completed by the time it entered into the contract. The two sides subsequently agreed — via a handwritten agreement — to build the hospital within the original budget, with the VA in charge of submitting a new, pared-down design reflecting a number of cost-saving measures. But in a July 8 complaint to the Civilian Board of Contract Appeals,
Read more
By -
Image
                 HAPPY EIGHT TRACK TAPE DAY!!   When : Always April 11th   Eight Track Tape Day brings back fond memories of the sixties and seventies. During this era, eight track tapes ruled the music world. America's love of the automobile, was a driving force in creating the demand for musical cassette formats. For those who grew up in this era, an eight track tape player in your home and your car was an essential. It was eventually replaced by cassette and other formats for storing music. Eight Track Tape Day is a day to bring back fond memories of the sixties and seventies. If you still have tapes and a player, by all means enjoy the day listening to some great music. If not, just spend a few minutes looking back in time to when you loved your eight track tapes!   Did you know? Eight track tapes were created by the jet maker William Lear. Anybody have a matchbook?
Read more

Connection Cafe Break

By -
Image
Connection Cafe Break Work keeping you busy? You may have missed the hot topics other members have been talking about on CFMA’s Connection Café . Critical incident debriefing , job costing overtime pay , and captive insurance all generated some buzz recently. Join in the conversation to share and get useful information!
Read more