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We have a floral business in Arizona. Our sales are increasing at a rapid rate and we're wondering if we should be remitting sales tax returns to the state more frequently than on a quarterly basis.
ANSWER
The BIDaWIZ Team's Answer:
How often you need to remit sales taxes collected (i.e. privilege tax) depends on your sales tax liabilities? If your annual transaction privilege tax liability is less than $2,000, you may file and pay annually; if your annual transaction privilege tax liability is between $2,000 and $8,000, you may file and pay quarterly. Otherwise, your transaction privilege taxes are due monthly. You need to contact Arizona department of Revenue to change your filing frequency.
References: Arizona Legislature Code Section 42-5014
State: Arizona
Sales tax category: Tax compliance
Product/Service: Manufacturing