Arizona HB2259 amends the transaction privilege tax to redefine the personal property rental classification and adjust the tax base.
Arizona HB2259 modifies the transaction privilege tax by redefining the personal property rental classification. It specifies that the tax base for this classification is the gross proceeds of sales or gross income derived from the business, with certain deductions. The bill excludes gross proceeds from leasing or renting films, tapes, slides, and other items from the tax base. It also excludes gross proceeds from leasing or renting animals for recreational purposes, motor vehicle fuel, and use fuel.
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