§ 26-21-108 — Returns and remittance of funds

(a) The Secretary of the Department of Finance and Administration shall promulgate rules to provide: (1) An alternative method for making payments if an electronic funds transfer fails on its due date; and (2) A rounding algorithm for sales or use tax computation. (b) (1) The Department of Finance and Administration shall develop a simplified electronic return to be used for all state and local sales and use taxes levied by the Arkansas Gross Receipts Act of 1941, § 26-52-101 et seq., and the Arkansas Compensating Tax Act of 1949, § 26-53-101 et seq. (2) The department shall provide a separate reporting form for any other special or miscellaneous excise taxes so as not to violate the agreement. (3) The department shall allow all sellers, whether or not the seller is registered under the agreement, to file a simplified electronic return. (4) A model 4 seller that does not have a legal requirement to register in Arkansas is not required to submit information relating to exempt sales on the simplified electronic return. (5) A seller that elects to file a simplified electronic return shall give at least a three-month notice of the seller's intent to discontinue filing a simplified electronic return. (c) The department shall allow a seller to elect to compute the sales or use tax due on a transaction on an item or an invoice basis and shall allow the rounding rule to be applied to the aggregated state and local sales or use taxes. (d) (1) A seller that is registered under the agreement and indicated at the time of registration that it does not anticipate making a sale that would be sourced to Arkansas is not required to file a return. (2) If the seller makes a taxable sale sourced to Arkansas, the seller shall file a return on or before the twentieth day of the month following the sale. (e) (1) A seller registered under the agreement that does not have a legal requirement to register in Arkansas shall be given a minimum of thirty (30) days' notice before the department establishes a tax liability based solely on the seller's failure to timely file. (2) However, the department may establish a tax liability based solely on a seller's failure to timely file if the seller has a history of nonfiling or late filing.

Legislative History

Amended by Act 2019, No. 910,§ 3676, eff. 7/1/2019. Acts 2005, No. 2163, § 1; 2007, No. 181, § 7; 2011, No. 291, § 6.