42-5016. Credit for telecommunications service
revenue reductions
A. A credit is allowed against the taxes imposed by this article and other
affiliated excise taxes for taxpayers in the business of selling and delivering
telecommunications services to residential customers in an amount equal to the dollar
amount of payments for telecommunications services not received by the taxpayer that are
directly attributable to the rate of assistance provided under title 46, chapter 6,
article 1.
B. The taxpayer shall claim the credit for each tax period in such manner as
prescribed by the department, that may be incorporated in the return form prescribed by
section 42-5014. A claim for credit is not allowed if the taxpayer fails to pay the tax
due before the payment becomes delinquent. If the taxpayer subsequently disallows or
recovers any amount claimed as rate assistance under title 46, chapter 6, article 1 and
received as a credit under this section in a previous tax period, that amount shall be
subtracted from the credit allowed under this section for the next tax period following
the disallowance or recovery.
C. The amount under this section is presumed to be revenues for the purpose of
determining the total amount to be applied against the appropriation limitation
prescribed under article IX, section 17, Constitution of Arizona.
|