Arkansas’ Enactment of Bills Brings State into SST Conformity.

In order to bring the state into SSTP conformity by January 1, 2008, Arkansas Governor Mike Beebe signed four bills into law: a credit or rebate of overpayment of local taxes on the first $2,500 of a qualifying single transaction; an extension on the effective date of previously enacted legislation from July 1, 2007 to January 1, 2008; the enactment of the remaining SST provisions, among them including provisions regarding nexus, amnesty, and exemption certificates; and the movement of certain special excise tax provisions (rental, tourism, and other special excise taxes) into a new chapter so that these taxes do not fall under the Agreement. (S.B. 279, S.B. 280, S.B. 281, S.B. 282)

Posted on March 6, 2007