By Jeremy Duda | Arizona Capitol Times
Calculating numbers for income tax return with pen and calculator
Rep. Regina Cobb is hoping the elusive goal of radically simplifying the way contractors pay sales tax will be within reach during the 2016 session.
Cobb, R-Kingman, is planning legislation that would allow contractors to pay all transaction privilege tax – the state’s version of a sales tax – at the point-of-sale. Under the current system, taxes on materials for new construction and major projects are paid later on the total cost of a construction project so that portions of the revenue can be split up between the city where the supplies were purchased and the city where they were used.
