Residential Rental Tax Changes Coming in the New Year

The Arizona Department of Revenue (ADOR) announces the elimination of transaction privilege tax (TPT) applicable to the rental of real estate for residential purposes (residential rental) as of January 1, 2025. A.R.S. § 42-6004 (H) was amended to exempt residential rental TPT from being levied. Residential rental TPT is reported and collected under business code 045 for long-term lodging stays of 30 days or more. Next Steps for Property Owners Owners should continue to collect, file, and pay residential rental TPT for periods through December 31, 2024, filed in January 2025. For periods beginning January 1, 2025, and thereafter, individuals...

For the written story, read here >> https://www.signalsaz.com/articles/residential-rental-tax-changes-coming-in-the-new-year/

Check out the CAST11.com Website at: https://CAST11.com
Follow the CAST11 Podcast Network on Facebook at: https://Facebook.com/CAST11AZ
Follow Cast11 Instagram at: https://www.instagram.com/cast11_podcast_network