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ARIZONA HOUSE OF REPRESENTATIVESFifty-seventh Legislature First Regular Session |
House: WM DP 9-0-0-0 |
HB 2635: TPT; exemption; firearm storage devices
Sponsor: Representative Gress, LD 4
House Engrossed
Overview
Creates a transaction privilege tax (TPT) and use tax exclusion from the gross proceeds of sales or gross income from the sales of safe firearm storage devices.
History
Statute outlines that the TPT retail classification is comprised of the business of selling tangible personal property at retail. The tax base for this classification is comprised of the gross proceeds of sales or income derived from the business. Statute permits that certain retail items be exempt from taxes imposed on this classification. (A.R.S. § 42-5061)
Statute outlines that the use, storage or consumption of purchased tangible personal property may be subject to a use tax in the state of Arizona, and that certain tangible personal property is exempt from the use tax. (A.R.S § 42-5159)
Provisions
1. Creates a TPT exemption from the gross proceeds of sales or gross income derived from the sale of safe firearm storage devices. (Sec. 1)
2. Creates a use tax exemption for firearm storage devices. (Sec. 2)
3. Defines safe firearm storage devices. (Sec. 1, 2)
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7. HB 2635
8. Initials VP Page 0 House Engrossed
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