Arizona Legislature Exempts the Sale of Renewable Energy Credits from State Sales Tax

Affirming its commitment to the development of renewable energy resources, the Arizona legislature recently passed legislation exempting the sale and/or use of Renewable Energy Credits (generally referred as "RECs") from Arizona's transaction privilege tax, which operates similar to a sales tax. Given that Arizona's state transaction privilege tax is over seven percent in most counties, and that city tack on an additional 2 to 3 percent tax, the decision to exempt the sale of RECs from a 10 percent tax is a significant development that should encourage the development of renewable energy in Arizona.

Source: http://www.renewableenergyworld.com/rea/news/article/2012/05/arizona-legislature-exempts-the-sale-of-renewable-energy-credits-from-state-sales-tax?cmpid=rss

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