Loading chat...
AR HB2085
Bill
Status
5/1/2017
Primary Sponsor
Johnny Rye
Click for details
AI Summary
-
Repeals Arkansas Code § 26-51-201(e), which previously required income tax rate reductions when remote seller sales tax collections exceeded $70 million in the first 12 months
-
Amends § 26-52-107 to distribute sales and use tax revenue from remote sellers (those without physical presence in Arkansas) as follows: first $15 million to State Apportionment Fund as general revenues, remainder distributed under Arkansas Highway Revenue Distribution Law
-
Removes contingency language from §§ 26-52-317(a) and 26-53-145(a) that tied food and food ingredients tax exemptions to the Director of Finance and Administration determining federal law authorized remote seller taxation
-
Simplifies the conditions for eliminating sales tax on food and food ingredients by removing references to a 12-month collection period and federal law authorization requirements
-
Effective date is the first day of the calendar quarter following this act's passage
Legislative Description
To Distribute A Portion Of The Sales And Use Tax Collected From Sellers That Do Not Have A Physical Presence In The State To The State Highway And Transportation Department Fund.
Last Action
Sine Die adjournment
5/1/2017