Terms Used In Arizona Laws > Title 43 > Chapter 14 > Article 2 - Taxation of Partnerships

• Assessment: includes a proposed additional assessment. See Arizona Laws 43-104
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Department: means the department of revenue, the director or the director's authorized delegate, as the context requires. See Arizona Laws 43-104
• Individual: means a natural person. See Arizona Laws 43-104
• Partner: means a member of a partnership. See Arizona Laws 43-104
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Partnership: includes a syndicate, group, pool, joint venture or other unincorporated organization, through or by means of which any business, financial operation or venture is carried on and that is not, within the meaning of this title, a trust, estate or corporation. See Arizona Laws 43-104
• Property: includes both real and personal property. See Arizona Laws 1-215
• Tax: means the taxes imposed under this title. See Arizona Laws 43-104
• Taxable year: means :

  (a) The calendar year or the fiscal year, ending during such calendar year, on the basis of which the taxable income is computed under this title. See Arizona Laws 43-104

• Trade or business: includes the performance of the functions of a public office. See Arizona Laws 43-104