Browse Arkansas Code titles and sections
26-63-304. Long-term rental vehicle tax.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-63-304. Long-term rental vehicle tax.
(a)(1) In addition to the gross receipts tax levied by the Arkansas Gross Receipts Act of 1941, § 26-52-101 et seq., and the compensating use tax levied by the Arkansas Compensating Tax Act of 1949, § 26-53-101 et seq., there is levied a long-term rental vehicle tax at the rate of one and five-tenths percent (1.5%) on the gross receipts or gross proceeds derived from a rental of a motor vehicle required to be licensed and that is leased for a period of thirty (30) days or more.
(2) The gross receipts or gross proceeds derived from the rental described in subdivision (a)(1) of this section are taxable regardless of whether the gross receipts tax levied by the Arkansas Gross Receipts Act of 1941, § 26-52-101 et seq., or the compensating use tax levied by the Arkansas Compensating Tax Act of 1949, § 26-53-101 et seq., was paid at the time of registration.
(b) If the Chief Fiscal Officer of the State certifies that three percent (3%) or more of all new motor vehicles registered in Arkansas during a calendar year are leased vehicles based on information and statistics from a reliable source, such as R.L. Polk & Co., then the long-term rental vehicle tax shall expire on June 30 of the fiscal year following the calendar year for which the certification is made.
(c) The long-term rental vehicle tax shall be remitted to the Secretary of the Department of Finance and Administration and shall be deposited into the State Treasury as general revenues.
(d) The long-term rental vehicle tax does not apply to:
(1) A diesel truck rented or leased for commercial shipping;
(2) Farm machinery or farm equipment rented or leased for a commercial purpose; or
(3) A gasoline-powered or diesel-powered truck rented or leased for residential
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-63-304
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:26-63-304
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 9bcacb65d4ad783b50da56f381d44b528794645f0e28ec1cea847c7be774d155
Source location: content.xml paragraph 31512
Stored source content
26-63-304. Long-term rental vehicle tax.
(a)(1) In addition to the gross receipts tax levied by the Arkansas Gross Receipts Act of 1941, § 26-52-101 et seq., and the compensating use tax levied by the Arkansas Compensating Tax Act of 1949, § 26-53-101 et seq., there is levied a long-term rental vehicle tax at the rate of one and five-tenths percent (1.5%) on the gross receipts or gross proceeds derived from a rental of a motor vehicle required to be licensed and that is leased for a period of thirty (30) days or more.
(2) The gross receipts or gross proceeds derived from the rental described in subdivision (a)(1) of this section are taxable regardless of whether the gross receipts tax levied by the Arkansas Gross Receipts Act of 1941, § 26-52-101 et seq., or the compensating use tax levied by the Arkansas Compensating Tax Act of 1949, § 26-53-101 et seq., was paid at the time of registration.
(b) If the Chief Fiscal Officer of the State certifies that three percent (3%) or more of all new motor vehicles registered in Arkansas during a calendar year are leased vehicles based on information and statistics from a reliable source, such as R.L. Polk & Co., then the long-term rental vehicle tax shall expire on June 30 of the fiscal year following the calendar year for which the certification is made.
(c) The long-term rental vehicle tax shall be remitted to the Secretary of the Department of Finance and Administration and shall be deposited into the State Treasury as general revenues.
(d) The long-term rental vehicle tax does not apply to:
(1) A diesel truck rented or leased for commercial shipping;
(2) Farm machinery or farm equipment rented or leased for a commercial purpose; or
(3) A gasoline-powered or diesel-powered truck rented or leased for residential moving or shipping.
Cross-references
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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
26-53-101. Title.
The title of this subchapter shall be cited as the “Arkansas Compensating Tax Act of 1949”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-53-101
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 26-53-101. This identifies an authority to review, not proof of applicability.