How To Register On Line For Tpt To Azdor

News As appear by the Arizona Department of Revenue (AZDOR), beginning Jan one, 2021, the transaction privilege tax (TPT) electronic filing and paying threshold decreases to $500.
Under legislation enacted in 2017, businesses with an annual TPT and/or employ taxation liability of $500 or more than during the prior calendar year volition be required to file and pay electronically beginning in February 2021 for the January reporting period.
Eastward-filing and paying are more secure and faster for taxpayers and critical for ADOR to evangelize a more than results-driven, customer-focused management organisation.
Taxpayers also save money through eastward-filing by becoming eligible to receive an enhanced accounting credit. Taxpayers filing TPT electronically during a agenda year are able to claim an bookkeeping credit of 1.2 per centum of the state tax due, with the total calendar yr credit limit of $12,000.
Is in that location a penalty for not filing and paying electronically?
Penalty for not filing and paying TPT electronically:

Penalty of 5% of the taxation amount due for filing a newspaper render. The minimum penalization is $25, including filings with zero liability.
Penalty of five% of the corporeality of payment made by check or cash.
Penalty of 4.5% of the tax required to be shown on the return for each month or fraction of a month the return is tardily. At that place is a minimum of $25 and a maximum 25% of the revenue enhancement due or $100, per return, whichever is greater.

If the business organization' estimated annual combined Arizona, canton, and municipal TPT liability is less than $2,000, consider adjusting the filing frequency to annually. If the change to annual filing is made in 2020, the alter will occur for the 2021 filing menstruation. This reduces the possibility of runaway returns and payments by decreasing the filing occurrences.
To file and pay online, a business must be registered on www.AZTaxes.gov and employ Automated Clearance House (ACH) Debit, e-check, or credit menu as a payment method to comply with electronic funds transfer payment requirements.
Visit Eastward-Services for Business for more information or contact ane of our accountants or CPAs.