Increased Accounting Credit now available to TPT taxpayers who e-file
The Arizona Department of Revenue is pleased to update transaction privilege tax (TPT) taxpayers who e-file using the department’s electronic filing programs.
Taxpayers who file electronically during a calendar year are now able to claim an increased accounting credit from 1 percent to 1.2 percent; this increases the total calendar year credit limit from $10,000 to $12,000.
TPT taxpayers who have already e-filed can file an amended return to claim the increased accounting credit.
The increased accounting credit for electronic TPT filers is in accordance with the Arizona Department of Revenue’s commitment to expanding electronic filing of individual, corporate and TPT as e-filing is a more secure and efficient process.
For taxpayers who file paper TPT returns, the accounting credit remains unchanged at 1 percent and a total calendar year credit of $10,000.
TPT filers can confirm the electronic or paper accounting credit rate for each TPT business code by going to the following rate table.
| Business Code | Taxable Activites | Accounting Credit Rate for Paper Filers (STATE TAX ONLY) | Accounting Credit Rate for Electronic Filers (STATE TAX ONLY) |
|---|---|---|---|
| 002 | Mining–Nonmetal | .0313% | .0375% |
| 004 | Utilities | .056% | .0672% |
| 005 | Communications | .056% | .0672% |
| 006 | Transporting | .056% | .0672% |
| 007 | Private (Rail) Car | .056% | .0672% |
| 008 | Pipeline | .056% | .0672% |
| 009 | Publication | .056% | .0672% |
| 010 | Job Printing | .056% | .0672% |
| 011 | Restaurants and Bars | .056% | .0672% |
| 012 | Amusement | .056% | .0672% |
| 014 | Personal Property Rental | .056% | .0672% |
| 015 | Contracting–Prime | .056% | .0672% |
| 017 | Retail | .056% | .0672% |
| 019 | Severance–Metalliferous Mining | .025% | .03% |
| 025 | Transient Lodging | .055% | .066% |