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AR HB2042

Bill

Official Source

Status

Failed

4/27/2011

Primary Sponsor

Efrem Elliott

Click for details

Origin

House of Representatives

88th General Assembly (2011 Regular)

AI Summary

  • Adds a new exemption (subdivision 39) to Arkansas Code § 26-52-401 for the Gross Receipts Tax
  • Exempts gross receipts or gross proceeds from sales of tangible personal property or services to community centers that hold 501(c)(3) federal tax-exempt status
  • The exemption applies to both tangible personal property sales and service sales to qualifying community centers
  • Effective on the first day of the calendar quarter following the date the act is enacted

Legislative Description

To Provide That Gross Receipts Or Gross Proceeds Derived From Sales Of Tangible Personal Property Or Services To Community Centers That Are Exempt From Taxation Under 26 U.s.c. § 501(c)(3) Are Exempt From The Gross Receipts Tax.

Last Action

House Died in House Committee at Sine Die adjournment.

4/27/2011

Committee Referrals

Revenue and Taxation3/7/2011

Full Bill Text

No bill text available