AR SB718

Amends Arkansas Code § 5-37-101 to define "electronic cash register," "transaction data," and "transaction report" for purposes of tax evasion laws

Creates new offense under § 5-37-505 making it unlawful to knowingly manufacture, sell, rent, lease, purchase, install, transfer, possess, or use software or devices designed to falsify electronic cash register or point-of-sale records to evade taxes

Establishes Class C felony conviction for violation of § 5-37-505 with liability for all taxes assessed by the Department of Finance and Administration under the Arkansas Tax Procedure Act

Imposes civil penalty under § 26-18-509 equal to the total amount of tax evaded, not collected, or not accounted for as a result of the violation