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Arkansas Governor Repeals Motor Vehicle Lease Provision


Leasing

On March 28, 2007, Arkansas Governor, Mike Beebe, signed H.B.2226 - repealing conflicting language in Arkansas law pertaining to sales tax on leases or rentals of motor vehicles. The repealed provision stated that any person engaged in the business of leasing or renting motor vehicles shall collect, report, and remit tax on the lease or rental payments in lieu of paying tax at the time of registration. The amended provision does not specifically identify the conflicting area, however; the repealed provision appeared to conflict with other provisions that acknowledge that motor vehicles lessors could pay sales or use tax on leased motor vehicles at the time of purchase of the property. (Act 550, H.B. 2226, Laws 2007)

(06/06/2007)
(Archived)
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