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AR SB540

Bill

Official Source

Status

Failed

5/1/2023

Primary Sponsor

David Wallace

Click for details

Origin

Senate

94th General Assembly (2023 Regular)

AI Summary

  • Creates a sales and use tax exemption for the first $1,000 of gross receipts from the sale of caskets, burial vaults, casket inserts, and cremation urns
  • The exemption applies to both the gross receipts tax under Arkansas Code Title 26, Chapter 52 and the compensating use tax under the Arkansas Compensating Tax Act of 1949
  • The exemption may be administered as a rebate
  • Takes effect on the first day of the calendar quarter following the effective date of the act

Legislative Description

To Create A Sales And Use Tax Exemption For Certain Items Related To Human Burial; And To Exempt A Portion Of The Purchase Price Of A Casket, Burial Vault, Casket Insert, Or Cremation Urn From Sales And Use Tax.

Last Action

Sine Die adjournment

5/1/2023

Committee Referrals

Revenue & Taxation3/29/2023

Full Bill Text

No bill text available