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AR HB1035
Bill
Status
Failed
4/27/2011
Primary Sponsor
Robert Altes
Click for details
AI Summary
- Amends Arkansas Code § 26-52-403 to add a new subsection (d) exempting repair and replacement parts for farm equipment and machinery from taxation
- Exempts gross receipts or gross proceeds derived from sales of farm equipment repair and replacement parts from the Arkansas Gross Receipts Tax Act of 1941
- Exempts farm equipment repair and replacement parts from the compensating use tax levied by the Arkansas Compensating Tax Act of 1949
- Becomes effective on the first day of the calendar quarter following the act's effective date
Legislative Description
To Exempt Repair Or Replacement Parts For Farm Equipment And Machinery From The Gross Receipts And Use Tax.
Last Action
House Died in House Committee at Sine Die adjournment.
4/27/2011
Committee Referrals
Revenue and Taxation1/10/2011
Full Bill Text
No bill text available