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Current as of March 08, 2022 | Updated by FindLaw Staff
A. From and after June 30, 2021 through June 30, 2041, in addition to the rates prescribed by § 42-5010, subsection A, an additional rate increment is imposed and shall be collected. The additional tax rate increment is levied at the rate of six-tenths of one percent of the tax base of every person engaging or continuing in this state in a business classification listed in § 42-5010, subsection A, paragraph 1.
B. The taxpayer shall pay taxes pursuant to this section at the same time and in the same manner as under § 42-5010, subsection A. The department shall separately account for the revenues collected with respect to the rates imposed by this section, and the state treasurer shall distribute all of those revenues in the manner prescribed by § 42-5029.02. The rates imposed by this section are not considered local revenues for purposes of article IX, section 21, Constitution of Arizona.
Cite this article: FindLaw.com - Arizona Revised Statutes Title 42. Taxation § 42-5010.01. Transaction privilege tax; additional rate increment - last updated March 08, 2022 | https://codes.findlaw.com/az/title-42-taxation/az-rev-st-sect-42-5010-01/
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