A major tax reform bill was signed into Arizona law on Tuesday. The TPT (Transaction Privilege Tax), sponsored by State Representative Debbie Lesko (R-Dist. 21), received almost unanimous bipartisan support in both chambers of the Arizona Legislature.
Under current law, businesses operating in multiple Arizona cities must remit multiple tax forms and checks to the state as well as each city they operate in. Businesses are also subjected to multiple audits by state and municipal tax authorities. Under the new legislation, businesses will only be subjected to one single audit and will remit their sales taxes to only one location either online or via one single form to the Arizona Department of Revenue.
Representative Lesko stated, “As Arizona has the most complicated sales tax system in the nation, the success of this reform was a big win for Arizona taxpayers and businesses alike. It has been tried multiple times before with no success but this time, we got it done. I’m honored to be part of this historic tax reform legislation that will bring Arizona one step closer to realizing its full potential as the nation’s best place to live and do business.”