AZ SB1241

Adds a new exemption to Arizona's transaction privilege tax (TPT) for the amusement classification for charity golf tournaments sponsored by nonprofit organizations exempt under Internal Revenue Code section 501(c)(3).

The exemption applies only when no part of the organization's net earnings inures to the benefit of any private shareholder or individual.

Gross proceeds or gross income from qualifying charity golf tournaments are deducted from the tax base for the amusement classification.

Effective date of the exemption is March 1, 2017, aligning with sunset provisions for other similar event exemptions in the statute.