filed in Taxes on May.25, 2010
On May 18, 2010, a temporary sales tax increase was approved by Arizona voters under Proposition 100.
On June 1, 2010, a 1% sales tax increase will go into effect for the State of Arizona raising the state tax from 5.6% to 6.6%. This tax increase will stay in effect until May 31, 2013.
The Arizona Transaction [...]
filed in LIFO on May.19, 2010
LIFO (last-in-first-out) is an inventory valuation method, recognized by the Internal Revenue Service since 1939, which is used for financial statement purposes and to determine the tax liability of an entity. This accounting method assumes inventory acquired last is the first to be sold, hence, last-in-first-out. For certain businesses, LIFO is the most accurate way [...]
filed in Policies and Procedures on May.11, 2010
There has been much debate over SB 1070, the Support Our Law Enforcement and Safe Neighborhoods Act which Arizona Governor Jan Brewer signed into law on April 23, 2010.
As debate rages on and Arizona faces tough criticism and possible boycotts as well as two federal lawsuits, it is easy to lose focus on the law [...]
filed in Policies and Procedures on May.04, 2010
The worst financial crisis since the Great Depression was not caused by the automobile industry or its lenders. Auto delinquency rates have not risen above 1 percent during this time yet the Senate is now considering a bill that could ultimately tell dealers what financial services they can offer to consumers, how they can offer [...]