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AR HB1588
Bill
Status
4/22/2015
Primary Sponsor
Bob Ballinger
Click for details
AI Summary
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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.
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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.
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Manufacturer rebates on motor vehicles are added as a new exclusion category alongside existing exclusions for discounts, financing charges, and legally imposed taxes.
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The amendments become effective on the first day of the calendar quarter following the effective date of the act.
Legislative Description
To Exclude Manufacturer Rebates On Motor Vehicles From The Definitions Used For Purposes Of Determining Sales And Use Taxes.
Last Action
Died in House Committee at Sine Die adjournment.
4/22/2015