Arkansas HB1807: TO AMEND THE SALES TAX EXEMPTION FOR AIRCRAFT HELD FOR RESALE AND USED FOR RENTAL OR CHARTER; AND TO CLARIFY THE PERSONS ELIGIBLE FOR THE SALES TAX EXEMPTION FOR AIRCRAFT HELD FOR RESALE AND USED FOR RENTAL OR CHARTER

What the bill says

An act to be entitled an act to amend the sales tax exemption for aircraft held for resale and used for rental or charter; to clarify the persons eligible for the sales tax exemption for aircraft held for resale and used for rental or charter; and for other purposes. subtitle to amend the sales tax exemption for aircraft held for resale and used for rental or charter; and to clarify the persons eligible for the sales tax exemption for aircraft held for resale and used for rental or charter.

From the enrolled text:

An Act To Be Entitled AN ACT TO AMEND THE SALES TAX EXEMPTION FOR AIRCRAFT HELD FOR RESALE AND USED FOR RENTAL OR CHARTER; TO CLARIFY THE PERSONS ELIGIBLE FOR THE SALES TAX EXEMPTION FOR AIRCRAFT HELD FOR RESALE AND USED FOR RENTAL OR CHARTER; AND FOR OTHER PURPOSES. Subtitle TO AMEND THE SALES TAX EXEMPTION FOR AIRCRAFT HELD FOR RESALE AND USED FOR RENTAL OR CHARTER; AND TO CLARIFY THE PERSONS ELIGIBLE FOR THE SALES TAX EXEMPTION FOR AIRCRAFT HELD FOR RESALE AND USED FOR RENTAL OR CHARTER. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. Arkansas Code § 26-52-409(a), concerning the sales tax exemption for aircraft held for resale and used for rental or charter, is amended to read as follows: (a)(1) Any person, whether an established business or an individual, that is engaged in the business of selling aircraft in this state, and holding holds a retail sales tax permit, and holds aircraft in stock for resale may purchase aircraft exempt for resale and use the aircraft for rental or charter service without payment of sales or use tax for a period of not to exceed one (1) year from the date of purchase of the aircraft. (2) In the case of aircraft purchased for resale which require substantial modification or …

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