Overview of Arizona Personal Property Tax

For any business, deciphering Arizona’s personal property tax laws is a daunting task. Arizona has special classifications for different types of assets. These classifications group similar assets by their useful life and function and can be fairly broad in scope. Arizona personal property tax is paid on the useful life and value of the asset. Many businesses do not invest enough time to figure out proper asset classifications: Nontaxable assets may be bundled with taxable assets; Assets may be misclassified under a classification that applies a longer asset life. Both of these mistakes can cost your business a substantial amount of money over time and they are both avoidable. WWP offers experienced assistance to get your personal property tax roll in the proper and most beneficial form.