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26-57-1005. Disposition of revenues.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-57-1005. Disposition of revenues.
(a) The revenues derived from § 26-57-1002(d)(1) shall be general revenues and shall be deposited into the State Treasury in the same manner as the Arkansas gross receipts tax under the Arkansas Gross Receipts Act of 1941, § 26-52-101 et seq.
(b) All revenues derived from § 26-57-1002(d)(2) shall be deposited by the Treasurer of State into the Identification Pending Trust Fund for Local Sales and Use Taxes under §§ 26-74-221, 26-75-223, and 26-82-113, and all revenues deposited into that fund shall be distributed to the cities and counties of this state under §§ 26-74-221(a)(2)(C)(ii), 26-75-223(a)(2)(C)(ii), and 26-82-113(a)(2)(A)(ii).
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-57-1005
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:26-57-1005
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: fad3120f72b0da18fe1c1a7dacf901f8def974e5594ca95149dc9e4741ba4810
Source location: content.xml paragraph 28495
Stored source content
26-57-1005. Disposition of revenues.
(a) The revenues derived from § 26-57-1002(d)(1) shall be general revenues and shall be deposited into the State Treasury in the same manner as the Arkansas gross receipts tax under the Arkansas Gross Receipts Act of 1941, § 26-52-101 et seq.
(b) All revenues derived from § 26-57-1002(d)(2) shall be deposited by the Treasurer of State into the Identification Pending Trust Fund for Local Sales and Use Taxes under §§ 26-74-221, 26-75-223, and 26-82-113, and all revenues deposited into that fund shall be distributed to the cities and counties of this state under §§ 26-74-221(a)(2)(C)(ii), 26-75-223(a)(2)(C)(ii), and 26-82-113(a)(2)(A)(ii).
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-52-101. Title.
This chapter shall be known and cited as the “Arkansas Gross Receipts Act of 1941”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-52-101
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. The source passage cites 26-52-101. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-57-1002. Registration — Records — Amount of tax.
(a) Any person who sells tangible personal property through vending devices may elect to register with the Secretary of the Department of Finance and Administration as a vending device operator and pay the state and local sales and use taxes as provided in this section.
(b) Any person who elects to register as a vending device operator shall obtain a gross receipts tax permit from the secretary as provided in § 26-52-201 et seq.
(c)(1) All tangible personal property purchased by a vending device operator for resale through a vending device shall be purchased exempt from the Arkansas Gross Receipts Act of 1941, § 26-52-101 et seq., the Arkansas Compensating Tax Act of 1949, § 26-53-101 et seq., and any local sales and use taxes pursuant to the sale-for-resale exemption provided for in § 26-52-401(12).
(2) The vending device operator shall maintain suitable records reflecting all purchases of tangible personal property during each calendar month for resale through a vending device.
(d)(1)(A)(i) A tax of four and one-half percent (4½%) is levied on the purchase price of all tangible personal property purchased or withdrawn from inventory during each calendar month by a vending device operator for resale through a vending device.
(ii)(a) An additional tax of one and one-half percent (1½%) is levied on the purchase price of all tangible personal property purchased or withdrawn from inventory during each calendar month by a vending device operator for resale through a vending device.
(b) The additional tax levied under subdivision (d)(1)(A)(ii)(a) of this section shall be special revenue and credited to the Educational Adequacy Fund.
(B) The taxes levied in subdivision (d)(1)(A) of this section shall be in l
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-57-1002
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. The source passage cites 26-57-1002. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-74-221. Administration of Local Sales and Use Tax Trust Fund.
(a)(1) There is created a trust fund for the remittance of local sales and use taxes which shall be known as the “Local Sales and Use Tax Trust Fund”.
(2)(A) There is also created a trust fund which shall be known as the “Identification Pending Trust Fund for Local Sales and Use Taxes”.
(B)(i) Money reported as local sales and use taxes which was collected in local taxing jurisdictions which are not immediately identifiable and money collected in local jurisdictions which have no tax shall be deposited into the Identification Pending Trust Fund for Local Sales and Use Taxes.
(ii) When a local tax jurisdiction is identified for money which has been deposited into the Identification Pending Trust Fund for Local Sales and Use Taxes, the money shall be transferred to the Local Sales and Use Tax Trust Fund.
(iii) When the total amount in the Identification Pending Trust Fund for Local Sales and Use Taxes exceeds fifty thousand dollars ($50,000), the Treasurer of State shall transfer any amount in excess of fifty thousand dollars ($50,000) to general revenues.
(C)(i) Money reported as local sales and use taxes, which was collected by an out-of-state vendor and which is not identifiable, shall be deposited into the Identification Pending Trust Fund for Local Sales and Use Taxes. Any such funds so deposited shall not be included for computation of transfer to general revenue in subdivision (a)(2)(B) of this section.
(ii) The Treasurer of State shall distribute unidentified local sales and use taxes collected by out-of-state vendors to the county treasurers and city treasurers as determined by their proportionate share of distribution from the Local Sales and Use Tax Trust Fund on a monthly basis.
(b
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-74-221
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. The source passage cites 26-74-221. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-75-223. Administration of Local Sales and Use Tax Trust Fund.
(a)(1) There is created a trust fund for the remittance of local sales and use taxes which shall be known as the “Local Sales and Use Tax Trust Fund”.
(2)(A) There is also created a trust fund which shall be known as the “Identification Pending Trust Fund for Local Sales and Use Taxes”.
(B)(i) Money reported as local sales and use taxes which was collected in local taxing jurisdictions which are not immediately identifiable and money collected in local jurisdictions which have no tax shall be deposited into the Identification Pending Trust Fund for Local Sales and Use Taxes.
(ii) When a local tax jurisdiction is identified for money which has been deposited into the Identification Pending Trust Fund for Local Sales and Use Taxes, the money shall be transferred to the Local Sales and Use Tax Trust Fund.
(iii) When the total amount in the Identification Pending Trust Fund for Local Sales and Use Taxes exceeds fifty thousand dollars ($50,000), the Treasurer of State shall transfer any amount in excess of fifty thousand dollars ($50,000) to general revenues.
(C)(i) Money reported as local sales and use taxes which was collected by an out-of-state vendor and which is not identifiable shall be deposited into the Identification Pending Trust Fund for Local Sales and Use Taxes. Any such funds so deposited shall not be included for computation of transfer to general revenue in subdivision (a)(2)(B) of this section.
(ii) The Treasurer of State shall distribute unidentified local sales and use taxes collected by out-of-state vendors to the county treasurers and city treasurers as determined by their proportionate share of distribution from the Local Sales and Use Tax Trust Fund on a monthly basis.
(b)(
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-75-223
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. The source passage cites 26-75-223. This identifies an authority to review, not proof of applicability.