Businesses in Arizona that are required to collect Transaction Privilege Tax (TPT) need to remember to change their tax rates effective June 1st. The expiration of the temporary tax from 2010 will reduce the Maricopa County tax rate from 7.3% to 6.3%. Business owners using a point of sale system or QuickBooks to automatically calculate the sales tax will need to adjust their software to the correct amount. Keep in mind in Arizona it is the vendor’s responsibility to charge the appropriate tax rate.
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