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AR SB495
Bill
Status
4/18/2025
Primary Sponsor
Joshua Bryant
Click for details
AI Summary
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Amends the definition of "invoice" under the Arkansas Tobacco Products Tax Act of 1977 to require documentation that identifies the parties to the transaction, including physical addresses and permit numbers of both sellers and purchasers
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Expands invoice requirements to cover tobacco products, vapor products, alternative nicotine products, and e-liquid products
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Clarifies that "invoice price" means the price wholesalers or retailers pay to manufacturers, importers, distributors, or other sellers to acquire products for subsequent sale in the state
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Establishes a fallback method for determining invoice price when proof of purchase price is absent: defaults to the highest pre-discount price at which the manufacturer sells the products, or comparable sales by similar wholesalers/retailers
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Approved April 16, 2025 as Act 718 of the Regular Session
Legislative Description
To Amend Definitions Used Under The Arkansas Tobacco Products Tax Act Of 1977; And To Amend The Definition Of "invoice" And The Definition Of "invoice Price" Used Under The Arkansas Tobacco Products Tax Act Of 1977.
Last Action
Notification that SB495 is now Act 718
4/18/2025