AR SB256

Adds machinery and equipment used in research and development to existing sales and use tax exemptions for manufacturing machinery and equipment in Arkansas.

Extends tax exemptions to machinery purchased to replace existing machinery used in research and development or manufacturing operations.

Clarifies that "directly" used in manufacturing includes machinery used from the research and development stage through initial production and completion of finished products.

Adds specific examples of exempted machinery including molds, dies, testing equipment, computers controlling production, and equipment producing steam or electricity essential to manufacturing.

Makes amendments effective on the first day of the calendar quarter following the effective date of the act.