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AR SB466
Bill
Status
4/25/2019
Primary Sponsor
Blake Johnson
Click for details
AI Summary
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Excludes manufacturer's rebates on motor vehicles from the definition of "sales price" under the Arkansas Gross Receipts Act of 1941, preventing them from being subject to sales tax.
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Excludes manufacturer's rebates on motor vehicles from the definition of "sales price" under the Arkansas Compensating Tax Act of 1949, preventing them from being subject to use tax.
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Adds manufacturer's rebates as a new subsection (iv) to the list of items not included in gross receipts or sales price calculations in both tax statutes.
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Becomes effective on the first day of the calendar quarter following the enactment date of the legislation.
Legislative Description
To Exempt A Manufacturer's Rebate On A Motor Vehicle From Sales And Use Tax; And To Exclude A Manufacturer's Rebate On A Motor Vehicle From The Definition Of "sales Price" Used For Purposes Of Determining Sales And Use Taxes.
Last Action
Sine Die adjournment
4/25/2019