44-1799.41. Heavy equipment rental agreements; requirements; definition A. A person in the business of renting heavy equipment property located in this state shall include in the rental agreement a one and one-half per cent surcharge of the gross rental receipts for any item of heavy equipment rented by a customer. The total amount of the surcharge that is collected by the business is for the purposes of paying personal property tax that is levied by all taxing jurisdictions against the heavy equipment property. B. For the purposes of this section, ' heavy equipment property' means rental property of an industry that is described under code 532412 or 532490 of the 2002 north American industry classification system as published by the United States census bureau.
Arizona Legal Code