Arizona Administrative Code
Title 15 - REVENUE
Chapter 5 - Department of Revenue - Transaction Privilege and Use Tax Section
Article 1 - RETAIL CLASSIFICATION
Section R15-5-132 - Retail Sales with Trade-ins
Universal Citation: AZ Admin Code R 15-5-132
Current through Register Vol. 30, No. 38, September 20, 2024
A. When a retailer accepts tangible personal property as a trade-in for part or full payment on the sale of tangible personal property, the dollar amount of the payment represented by the trade-in is deductible from the retailer's gross receipts from that sale.
B. A trade-in deduction shall be limited to the amount of the retailer's gross receipts on that sale.
C. When the property traded in is subsequently sold at retail, the gross receipts from the transaction are taxable.
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