Glossary · Change & Conversion
Final completion
In short
The point at which all contract work including punch list items is finished. Arizona's tax statute uses the term without defining it.
In full
Final completion is the point at which everything the contract requires has been performed, including the punch list items left outstanding at substantial completion. The meaning comes from construction contract practice, not from Arizona tax law.
A.R.S. § 42-5075(O) uses the term twice without defining it, in the same two places as substantial completion: bounding the punch list at (O)(1)(b), and at (O)(1)(e), where inspection to determine the dates of substantial completion or final completion is a construction phase service.
The gap between the two dates is what the punch list occupies. Work performed in that gap is still modification work, and administering it is still a construction phase service, so a contract cannot treat the period after substantial completion as outside its taxable construction phase.
A.R.S. § 42-5075(O)(1)(b), (O)(1)(e)