Arizona Revised Statutes Title 42. Taxation § 42-19005. Property leased or rented from inventory

A. Subject to § 42-19103, personal property that is periodically leased or rented from the inventory of retailers or wholesalers shall be assessed in the same manner as other personal property included in class one pursuant to §§ 42-12001 and 42-15001.

B. The department shall:

C. Each retailer and wholesaler that leases or rents personal property from its inventory shall file an affidavit of particulars with the county assessor not later than the tenth day of each month for the preceding month's activity.

D. This section does not apply to property that is owned and held by persons primarily engaged in the business of renting personal property.