§ 26-52-451 — Sales of certain aircraft

(a) The gross receipts or gross proceeds derived from the sale of an aircraft within the state are exempt from the gross receipts tax levied under this chapter and the compensating use tax levied by the Arkansas Compensating Tax Act of 1949, § 26-53-101 et seq., if the aircraft is sold by a: (1) Person that is the resident of another state to a purchaser that: (A) Is a resident of another state; and (B) Will base the aircraft outside of the State of Arkansas; or (2) Seller located in this state and the aircraft that is sold will be based outside of the State of Arkansas, notwithstanding the fact that possession of the aircraft may be taken in this state for the sole purpose of removing the aircraft from the state under its own power. (b) The fact that a purchaser takes possession of an aircraft in this state does not prevent the application of the exemption provided in this section if the purchaser takes possession of the aircraft for the sole purpose of: (1) Removing the aircraft from this state under its own power; or (2) Locating the aircraft at a maintenance facility in this state for the time period necessary to complete maintenance or modifications to the aircraft if the aircraft is removed from this state upon completion of the maintenance or modifications.

Legislative History

Amended by Act 2021, No. 142,§ 1, eff. 5/1/2021. Amended by Act 2017, No. 595,§ 1, eff. 3/23/2017. Added by Act 2015, No. 1182,§ 2, eff. 4/7/2015.