Arkansas § 26-52-406 Prescription drugs and oxygen

Arkansas Statutes

§ 26-52-406 — Prescription drugs and oxygen

Arkansas § 26-52-406

Title26

This text of Arkansas § 26-52-406 (Prescription drugs and oxygen) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 26-52-406 (2026).

Text

(a)(1) The gross receipts or gross proceeds derived from the sale, purchase, or use of prescription drugs by licensed pharmacists, hospitals, or physicians when sold, purchased, or administered for human use and from the sale of oxygen sold for human use on prescription of a licensed physician shall be exempt from the Arkansas gross receipts tax levied by this chapter and the Arkansas compensating use tax levied by the Arkansas Compensating Tax Act of 1949, § 26-53-101 et seq.

(2)The withdrawal of prescription drug samples for free distribution from a stock or inventory, whether located within or outside the State of Arkansas, is exempt from the tax imposed by this chapter.

(b)The Secretary of the Department of Finance and Administration shall adopt such appropriate rules as the secreta

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(a) (1) The gross receipts or gross proceeds derived from the sale, purchase, or use of prescription drugs by licensed pharmacists, hospitals, or physicians when sold, purchased, or administered for human use and from the sale of oxygen sold for human use on prescription of a licensed physician shall be exempt from the Arkansas gross receipts tax levied by this chapter and the Arkansas compensating use tax levied by the Arkansas Compensating Tax Act of 1949, § 26-53-101 et seq. (2) The withdrawal of prescription drug samples for free distribution from a stock or inventory, whether located within or outside the State of Arkansas, is exempt from the tax imposed by this chapter. (b) The Secretary of the Department of Finance and Administration shall adopt such appropriate rules as the secretary deems necessary to assume the effective and efficient administration of the exemption provided for in this section and to prevent abuse thereof.

Legislative History

Amended by Act 2019, No. 315,§ 2993, eff. 7/24/2019. Amended by Act 2019, No. 910,§ 3848, eff. 7/1/2019. Acts 1979, No. 54, §§ 1, 2; 1985, No. 941, § 1; A.S.A. 1947, §§ 84-1904.3, 84-1904.4; Acts 1987, No. 416, § 1; 1997, No. 704, § 1; 1997, No. 884, § 1.