006.05.212-GR-92. REBATES FOR QUALIFYING PURCHASES:
AR ADC 006.05.212-GR-92Arkansas Administrative Code
Ark. Admin. Code 006.05.212-GR-92
006.05.212-GR-92. REBATES FOR QUALIFYING PURCHASES:
d. By a state, or any county, city, municipality, school district, state-supported college or university, or any other political subdivision of a state, if the purchase would be subject to a business expense deduction or depreciation deduction if the purchaser were not one (1) of the entities enumerated in this subdivision.
1. A purchaser that pays any municipal sales or use tax in excess of the tax due on the first $2,500.00 of gross receipts or gross proceeds from a qualifying purchase of tangible personal property or a taxable service in a single transaction is entitled to a credit or rebate of the excess amount of municipal sales or use tax paid on each single transaction.
2. A purchaser that pays any county sales or use tax in excess of the tax due on the first $2,500.00 of gross receipts or gross proceeds from a qualifying purchase of tangible personal property or a taxable service in a single transaction is entitled to a credit or rebate of the excess amount of county sales or use tax paid on each single transaction.
Example: On May 1st, Company A purchased several computers from Company B. Company A has an account with Company B and did not pay for the computers until May 20th. The time for Company A to claim the credit or rebate runs from May 20th.
Example: A business that holds a direct pay permit fails to self rebate and remits tax on the full sales price of a qualifying purchase. The date of payment is the date the business remits tax on the full sales price of the qualifying purchase.
Credits
AUTHORITY: Ark. Code Ann. § 26-52-523
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-92, AR ADC 006.05.212-GR-92
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