The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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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.
43-1242 - Information returns of tax-exempt organizations; definition
43-1242. Information returns of tax-exempt organizations; definition
A. Every organization that is exempt under section 43-1201, subsection B shall annually file a return with the department on a form prescribed by the department on or before the fifteenth day of the fifth month after the close of the taxable year. The return shall include:
1. The organization's gross receipts for the year.
2. The organization's expenses incurred within the year.
3. A balance sheet showing the organization's assets, liabilities and net worth as of the beginning and end of the year.
4. Such other information as the department may prescribe by rule.
B. For the purposes of this section, "gross receipts" means the total amount the organization received from all sources during its annual tax year without subtracting any costs or expenses.