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AR HB1263
Bill
Status
5/1/2017
Primary Sponsor
Logan Jett
Click for details
AI Summary
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Creates a new section 26-52-452 in Arkansas Code to exempt parts for modification, replacement, or repair of agricultural machinery and equipment from gross receipts tax and compensating use tax.
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Exemption applies to parts for agricultural machinery and equipment, including aviation machinery and equipment, used in commercial agricultural production in Arkansas.
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Exempts services related to initial installation, alteration, addition, cleaning, refinishing, replacement, or repair of agricultural machinery and equipment, including aviation machinery and equipment, used in commercial agricultural production in Arkansas.
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Exemption becomes effective on the first day of the calendar quarter following the effective date of the act.
Legislative Description
To Create A Sales And Use Tax Exemption For Parts For And Repair Of Agricultural Equipment And Machinery.
Last Action
Died in House Committee at Sine Die Adjournment
5/1/2017