The Arizona Revised Statutes have been updated to include the revised sections from the 55th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 55th Legislature, 2nd Regular Session, which convenes in January 2022.
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. A prime contractor may qualify for an exemption from transaction privilege tax with respect to activities in a military reuse zone as provided, and subject to the terms and conditions prescribed, by section 42-5075, subsection B, paragraph 4.
B. Taxable property in a military reuse zone that is devoted to providing aviation or aerospace services or to manufacturing, assembling or fabricating aviation or aerospace products qualifies for assessment as class six property as provided, and subject to the terms and conditions prescribed, by sections 42-12006 and 42-15006.
C. To qualify for a tax incentive described in subsection A or B of this section, the taxpayer shall provide to the authority information relating to the amount of tax benefits the taxpayer receives each year for each year in which the taxpayer claims the incentives on forms prescribed by the authority. If the taxpayer fails to provide the required information, the authority shall immediately revoke the taxpayer's certification of eligibility and notify the department of revenue.
D. Taxpayers who qualify for tax incentives under subsection B of this section shall be certified by the authority as eligible for a five-year period, subject to termination in the event of changed circumstances rendering the taxpayer no longer eligible.