Arkansas Administrative Code
Agency 006 - Department of Finance and Administration
Division 05 - Division of Revenues
Rule 006.05.95-007 - Amendment to Arkansas Gross Receipts Regulation GR-43(D) and GR-43(E)
Universal Citation: AR Admin Rules 006.05.95-007
Current through Register Vol. 49, No. 9, September, 2024
These amendments to the Arkansas Gross Receipts Regulations are necessary in order to properly implement and enforce Ark Code Ann. § 26-52-401(18) (B) and are promulgated pursuant to the authority vested in the Director of the Depart and Administration and the Commissioner of Revenue by Act 386 of 1941 and Act 401 of 1979.
Gross Receipts Regulation GR-43(D) and GR-43(E) are amended to read as follows:
"(D) The gross
receipts or gross proceeds derived from the sale of seed to be used in the
commercial production of any agricultural product, or in the commercial
production of any agricultural seed are exempt from the tax. Also, the gross
receipts or gross proceeds derived from the sale of seedlings used in the
commercial production of timber are exempt from tax. For purposes of this
subsection the term * commercial production' means that the purchaser of the
seed or seedling is engaged in the business of growing agricultural products,
including the production of timber.
(E) The term ' agricultural' means operations engaged in for the production of food, fiber or timber."
Disclaimer: These regulations may not be the most recent version. Arkansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
