AR HB1451

Amends Arkansas Code § 26-52-103(13)(B) to exclude manufacturer rebates on motor vehicles from the definition of "gross receipts," "gross proceeds," or "sales price" under the Arkansas Gross Receipts Act of 1941.

Amends Arkansas Code § 26-53-102(13)(B) to exclude manufacturer rebates on motor vehicles from the definition of "sales price" or "purchase price" under the Arkansas Compensating Tax Act of 1949.

Manufacturer rebates on motor vehicles are added as a fourth category of exclusions from taxable sales price, alongside discounts, financing charges, and legally imposed taxes.

The amendments become effective on the first day of the calendar quarter following the date the act is signed into law.