The State of Arizona requires all businesses subject to Sales Tax to annually renew their license through their account with the State of Arizona. License renewals are due December 31, 2022 through your www.aztaxes.gov account.
Our firm recently attended continuing education courses for Business and Individual taxes. The instructor made an interesting comment we felt compelled to pass along. She mentioned that most taxpayers are 10 times more likely to be audited for rental taxes than income taxes.
As a reminder, if you have rental income from online lodging platforms or have rental properties in jurisdictions requiring the collection and remittance of sales (rental) tax, make sure you double-check the rules about rental taxes and their applicability in your situation.
Early this year, we sent an email blast about the new Arizona requirement of posting your sales tax license number to your online lodging platforms (such as VRBO, Airbnb, etc.). Plus, if you have a property manager for your rentals (either short or long-term), you will want to confirm they are charging and remitting rental taxes on your behalf.
The realm of sales tax is detailed and complex, so if you have specific questions about your situation, please reach out to your tax advisor.