Bill > HB1818

This bill creates a sales and use tax exemption for parts purchased to repair agricultural equipment and machinery, as well as timber equipment and machinery, in the state of Arkansas. The exemption applies to the gross receipts tax and the compensating use tax. The bill defines "agricultural equipment and machinery" as implements used exclusively and directly in commercial agricultural production, and "timber equipment and machinery" as implements used exclusively in the commercial production, harvesting, or processing of timber. The tax exemption is effective starting January 1, 2022.