Materials
5 entries in this section. Every term is a link — open one for the full definition, its sources, and related entries.
- Exempt purchase Buying materials without paying tax at the register by giving the vendor an exemption certificate. Which certificate depends on whether the contractor holds a TPT license.
- Materials incorporated into real property Materials that become part of the real property when installed. The whole materials-tax scheme depends on this phrase.
- Retail equivalent An amount equal to retail tax, remitted by a licensed contractor on materials used in MRRA work that were bought tax free.
- Statutory deduction An amount the statute permits to be subtracted before tax is computed. Two different sets apply depending on which tax is being calculated.
- Use tax Arizona's tax on using or consuming property in the state when transaction privilege tax was not paid on it. Related to the retail equivalent but not the same thing.