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AR HB1010
Bill
Status
Passed
2/24/2021
Primary Sponsor
Logan Jett
Click for details
AI Summary
- Aircraft sales within Arkansas are exempt from gross receipts and compensating use taxes if sold by an out-of-state resident to an out-of-state purchaser who will base the aircraft outside Arkansas
- Aircraft sales by in-state sellers are exempt from gross receipts and compensating use taxes if the aircraft has a certified maximum take-off weight exceeding 9,500 pounds and will be based outside Arkansas
- Exemption for in-state sales applies even if possession is temporarily taken in Arkansas solely for the purpose of removing the aircraft from the state under its own power
- "Maximum take-off weight" is defined as the maximum gross weight due to design or operational limitations at which an aircraft is permitted to take off
- The amendments to Arkansas Code § 26-52-451(a) become effective on the first day of the calendar quarter following the act's effective date
Legislative Description
To Amend The Sales And Use Tax Exemption For Sales Of Certain Aircraft.
Last Action
Notification that HB1010 is now Act 142
2/24/2021
Committee Referrals
Revenue & Taxation2/1/2021
Revenue and Taxation1/11/2021
Full Bill Text
No bill text available