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TPT Update -- March 2024

RESIDENTIAL RENTAL TAX CHANGES

A.R.S. § 42-6004 (H) has been amended to prohibit a city, town, or other taxing jurisdiction from levying a transaction privilege, sales, gross receipts, use, franchise or other similar tax or fee, however denominated, on the business of renting or leasing real property for residential purposes. (Lodging spaces rented for 30 days or more). Currently, there is no state transaction privilege tax (TPT) or county tax imposed on residential rentals.