PHOENIX — Arizona Gov. Doug Ducey signed an $18 billion, 2023 fiscal year budget that expands the sales tax exemption for used, rental and lease agricultural equipment, and off-highway vehicles (OHVs) for farming and ranching, effective Oct. 1, 2022. Far West Equipment ...
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The Tax Policy Center published an article on May 12, 2022, “Inflation and Oil Price Spikes Revive Case for LIFO Repeal,” written by Thornton Matheson and Thomas Brosy, calling for the repeal of the last-in, first-out (LIFO) inventory accounting method. ...
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In 2021 the Colorado legislature passed Senate Bill 21-260, approving multiple new fees to increase funding for transportation. In Colorado, fees are often used to increase revenue without running into issues with the state’s Taxpayer Bill of Rights (“TABOR”) which ...
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Senate Bill 1093 that continues efforts to reduce the state’s commercial property tax assessment ratio to 15% over the next five years passed the Senate last month with bipartisan support and is headed to a vote of the House. It ...
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PHOENIX — Far West Equipment Dealers Association President and CEO Joani Woelfel, and Tim Robinson, Agricultural Manager for Empire Caterpillar and owner of Iron City Polaris, testified Feb. 2 at the Arizona State Capitol to advance House Bill 2400 and ...
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Now that we’ve lived under the Tax Cuts and Jobs Act (TCJA) for several years, let’s look at what we’ve learned about how to take full advantage of its provisions. Here are some moves to consider: Itemized Deductions - Because of the ...
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2021 has brought with it many legislative changes including the passage of the Infrastructure Investment and Jobs Act and currently, the Build Back Better Act (BBBA) is being sorted out in Congress. With these changes and the potential impact of ...
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Tax Increases Pass House, Senate Fate Uncertain Ahead of Thanksgiving, the House passed President Biden’s “Build Back Better Act,” a $1.75 trillion bill (H.R. 5376), which included several tax increases. No Republicans voted for the 2,100-plus page bill. Now before the ...
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Ballot Initiative #27 known as the “Property Tax Assessment Rate Reduction” has been determined by the Secretary of State to qualify for the 2021 statewide ballot. The goal of Initiative 27 is “to reduce the residential property tax assessment rate from 7.15% ...
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ARIZONA Business Tax Workshops This is a course on transaction privilege tax basics for businesses. The topics include Licensing and Reporting, Location Based Reporting, Tax Rates, Exemption Certificates, Exemptions and Deduction Codes, Added Tax versus Tax Factoring and Calculating and Reporting Tax. ...
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