Arizona Laws 43-1242. Information returns of tax-exempt organizations; definition
A. Every organization that is exempt under section 43-1201, subsection B shall annually file a return with the department on a form prescribed by the department on or before the fifteenth day of the fifth month after the close of the taxable year. The return shall include:
Terms Used In Arizona Laws 43-1242
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Department: means the department of revenue, the director or the director's authorized delegate, as the context requires. See Arizona Laws 43-104
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
- Tax: means the taxes imposed under this title. See Arizona Laws 43-104
- Taxable year: means :
(a) The calendar year or the fiscal year, ending during such calendar year, on the basis of which the taxable income is computed under this title. See Arizona Laws 43-104
1. The organization’s gross receipts for the year.
2. The organization’s expenses incurred within the year.
3. A balance sheet showing the organization’s assets, liabilities and net worth as of the beginning and end of the year.
4. Such other information as the department may prescribe by rule.
B. For the purposes of this section, "gross receipts" means the total amount the organization received from all sources during its annual tax year without subtracting any costs or expenses.