If this bill were to become law, it would amend current statutes related to the transaction privilege tax (TPT) by requiring utility providers (water, electric, and gas) to maintain separate records of gross proceeds from sales to residential and nonresidential customers. Specifically, it would insert a new requirement for these businesses to report these separate amounts to the Arizona Department of Revenue (ADOR) on their TPT return forms. Additionally, the bill mandates that ADOR revise the TPT return form to accommodate this new reporting requirement within six months of the law's effective date.
The bill also includes a provision that repeals the requirement for ADOR to revise the TPT return form on January 1, 2027, and establishes that the new reporting requirements will apply to taxable periods starting on or after the first day of the month following the sixth month after the general effective date. Furthermore, it makes conforming changes to ensure consistency within the statute. Overall, the bill aims to enhance transparency in utility sales reporting while streamlining the process for both businesses and the state.
Statutes affected: Introduced Version: 42-5063