![][1] 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.
[1]: http://www.renewableenergyworld.com//assets/images/story/2012/5/8/1332-arizona-legislature-exempts-the-sale-of-renewable-energy-credits-from-state-sales-tax.jpg
URL: 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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