Ariz. Senate Committee OKs Electricity Tax Break

Law360, New York (February 14, 2014, 4:45 PM EST) -- Arizona lawmakers on Wednesday took the first steps toward passing legislation that would exempt companies from paying sales tax on electricity used for manufacturing or smelting.

The Arizona Senate Finance Committee voted 7-0 to advance the bill, SB 1413, which supporters say will help make the state more economically competitive and create new jobs. Arizona is one of only a handful of states that charge taxes on the electricity that manufacturing and smelting operations consume.

“When the tax people and the financial planners for corporations are...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.