Loading chat...
AR SB1026
Bill
Status
5/17/2013
Primary Sponsor
Keith Ingram
Click for details
AI Summary
-
Amends Arkansas Code § 26-52-107 to create a conditional revenue dedication for sales and use taxes collected from remote sellers without physical presence in the state
-
Director of Finance and Administration must determine two conditions: (1) federal law authorizes Arkansas to collect such taxes, and (2) remote sellers make taxable sales to in-state purchasers
-
Once conditions are met, the Chief Fiscal Officer certifies monthly the available net general revenues from remote seller taxes to the State Treasurer
-
State Treasurer deposits certified amounts into the State Highway and Transportation Department Fund monthly rather than the general State Apportionment Fund
-
Sales and use tax revenue from remote sellers continues to be general revenues subject to the Revenue Stabilization Law, § 19-5-101 et seq., except for the portion dedicated to highway and transportation
Legislative Description
To Dedicate The Sales And Use Tax Revenue Generated From Sellers That Do Not Have A Physical Presence In The State To The Arkansas State Highway And Transportation Department When Certain Conditions Are Met.
Last Action
Sine Die adjournment
5/17/2013