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26-52-426. Railroad rolling stock manufactured for use in interstate commerce — Definition.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-52-426. Railroad rolling stock manufactured for use in interstate commerce — Definition.
(a) The gross receipts or gross proceeds derived from the sale or lease of railroad rolling stock manufactured for use in transporting persons or property in interstate commerce is exempt from the gross receipts tax levied by this chapter.
(b)(1) As used in this section, “railroad rolling stock” means completed railroad locomotives and completed railroad cars designed to haul either passengers or freight.
(2)(A) “Railroad rolling stock” shall not include repair parts or materials used to repair locomotives or railroad cars, components of railroad cars or locomotives, trailers, or any property not used directly in the transportation of passengers or freight.
(B) “Railroad rolling stock” shall also not include machinery used to repair or maintain railroad cars, locomotives, track, railroad ties, or railroad roadway.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-52-426
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:26-52-426
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 0bd54a54fe8a8834172135e1d3e823fe7be4d10b4dd0dba398e8566f539c153d
Source location: content.xml paragraph 19531
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26-52-426. Railroad rolling stock manufactured for use in interstate commerce — Definition.
(a) The gross receipts or gross proceeds derived from the sale or lease of railroad rolling stock manufactured for use in transporting persons or property in interstate commerce is exempt from the gross receipts tax levied by this chapter.
(b)(1) As used in this section, “railroad rolling stock” means completed railroad locomotives and completed railroad cars designed to haul either passengers or freight.
(2)(A) “Railroad rolling stock” shall not include repair parts or materials used to repair locomotives or railroad cars, components of railroad cars or locomotives, trailers, or any property not used directly in the transportation of passengers or freight.
(B) “Railroad rolling stock” shall also not include machinery used to repair or maintain railroad cars, locomotives, track, railroad ties, or railroad roadway.
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