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AR HB1194
Bill
Status
5/1/2023
Primary Sponsor
Lee Johnson
Click for details
AI Summary
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Amends Arkansas Code § 26-52-103(19)(B) to exclude manufacturer's rebates on motor vehicles from the definition of "gross receipts," "gross proceeds," or "sales price" under the Arkansas Gross Receipts Act of 1941.
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Amends Arkansas Code § 26-53-102(19)(B) to exclude manufacturer's rebates on motor vehicles from the definition of "sales price" or "purchase price" under the Arkansas Compensating Tax Act of 1949.
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Exempts manufacturer's rebates on motor vehicles from sales and use tax calculations in both the gross receipts and compensating tax statutes.
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Takes effect on the first day of the calendar quarter following the effective date of the act.
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
Died in House Committee at Sine Die Adjournment
5/1/2023