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006.05.212-GR-49. EXEMPTIONS FROM TAX - ISOLATED SALES:

AR ADC 006.05.212-GR-49Arkansas Administrative Code

West's Arkansas Administrative Code
Title 006. Department of Finance and Administration
Division 05. Division of Revenues
Rule 212. 2008-3 Gross Receipts Tax Rules
Gross Receipts Tax Rules
Ark. Admin. Code 006.05.212-GR-49
006.05.212-GR-49. EXEMPTIONS FROM TAX - ISOLATED SALES:
Currentness
A. The gross receipts or gross proceeds derived from isolated sales not made by an established business or in an established manner are exempt from the tax.
B. “Isolated sale” means the one-time sale of an item, or group of items not made by an established business of any kind of character.
Example: Seller has an inventory of merchandise which buyer desires to purchase. Seller is in the established business of selling the merchandise. If seller sells all or part of the inventory to buyer, then it is not an isolated sale and seller must collect and remit tax on the gross receipts or gross proceeds derived from the sale of the merchandise unless other exemptions are applicable such as the sale for resale exemption. Sale of non-inventory assets is considered an isolated sale.
C. This exemption does not apply to the sale of motor vehicles, trailers, semi-trailers, mobile homes, airplanes, or sales of tangible personal property at special events. (See GR-49.1.)

Credits

AUTHORITY: Ark. Code Ann. § 26-52-401(17)
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 006.05.212-GR-49, AR ADC 006.05.212-GR-49
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