Arizona Laws 42-5123. Records of transaction
Current as of: 2024 | Check for updates
|
Other versions
Nonaffiliated Indians and non-Indian vendors shall maintain sufficient documentation of their taxable and nontaxable gross proceeds and gross income, under any method of recording that properly reflects such taxable and nontaxable gross proceeds and gross income, to enable the department to determine which transactions are subject to transaction privilege tax. Any gross proceeds and gross income that cannot be identified as nontaxable is considered taxable.
Terms Used In Arizona Laws 42-5123
- Department: means the department of revenue. See Arizona Laws 42-1001
- Gross income: means the gross receipts of a taxpayer derived from trade, business, commerce or sales and the value proceeding or accruing from the sale of tangible personal property or service, or both, and without any deduction on account of losses. See Arizona Laws 42-5001