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REFERENCE TITLE: income tax returns; business identification |
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State of Arizona House of Representatives Fiftieth Legislature Second Regular Session 2012
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HB 2348 |
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Introduced by Representative Court
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AN ACT
Amending section 43-321, Arizona Revised Statutes; relating to income tax returns.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 43-321, Arizona Revised Statutes, is amended to read:
43-321. Information required in returns
Each return required to be filed under this title shall contain the following:
1. It shall contain or be verified by a declaration that it is made under penalties of perjury. The declaration shall be written or in a form prescribed by the department pursuant to section 42‑1105, subsection B.
2. A specific statement of the items of the taxpayer's gross income and the adjustments, deductions and credits allowed by this title.
3. A specific statement of the taxpayer's use tax liability pursuant to section 42‑5169.
4. If the return includes any information that relates to the taxpayer's business:
(a) The industry code for the taxpayer's business that corresponds to the industries described under the North American Industry classification system.
(b) The amount that is reported on the taxpayer's federal return and that is equal to the total gross receipts for the taxpayer's business minus any returns, allowances and any other adjustments allowed by federal law.
4. 5. Such other information as the department may by rule prescribe for the purpose of carrying out the provisions of this title.