AR HB1453

Exempts gross receipts and use taxes on sales of used motor vehicles from Arkansas sales and use tax.

Requires consumers to pay all applicable taxes directly to the Secretary of the Department of Finance and Administration at the time of vehicle registration, rather than to the dealer or seller.

Applies 10% penalty on unpaid taxes if consumer fails to pay taxes when due before vehicle registration is issued.

Allows tax credit when used motor vehicle is sold by consumer and new or used vehicle of greater value is purchased within 45 days, with taxpayer required to provide bill of sale signed by all parties.

Effective on the first day of the second calendar month following the effective date of the act.