Ark. Code Ann. » Title 26 Chapter 52
Arkansas Code Annotated

Ark. Code Ann. § 26-52-409 (2020)

Aircraft held for resale and used for rental or charter

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History. Acts 1975, No. 1008, § 1; A.S.A. 1947, § 84-1904.2; Acts 1995, No. 499, § 1.

Research References

U. Ark. Little Rock L.J.

Legislative Survey, Taxation, 8 U. Ark. Little Rock L.J. 601.

Case Notes

One-Year Period.

The language “at the time of subsequent sale” in subsection (c) of this section refers only to those aircraft sold during the one-year holding period. Weiss v. Central Flying Serv., 326 Ark. 685, 934 S.W.2d 211 (1996).

This section provides that the gross receipts tax on the purchase of an airplane used for rental or charter service and held for more than one year without resale must be paid immediately after the lapse of one year from the date of purchase, not when the airplane is actually sold after the lapse of one year. Weiss v. Central Flying Serv., 326 Ark. 685, 934 S.W.2d 211 (1996).

Notes of Decisions
Cited in 1 case, 1996–1996 · leading case: Weiss v. Cent. Flying Serv., Inc., 934 S.W.2d 211 (Ark. 1996).
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Weiss v. Cent. Flying Serv., Inc., 934 S.W.2d 211 (Ark. 1996). · cites it 19× “Under Ark. Code Ann. § 26-52-409 (Supp. 1995), Central was authorized to rent or lease these five airplanes for a period not to exceed one year from the date of purchase, and during that one-year period, it was exempt from paying a sales or use tax.”
Ark. Code Ann. § 26-52-409(a)(l): 1 case
Weiss v. Cent. Flying Serv., Inc., 934 S.W.2d 211 (Ark. 1996). “Under Ark. Code Ann. § 26-52-409 (Supp. 1995), Central was authorized to rent or lease these five airplanes for a period not to exceed one year from the date of purchase, and during that one-year period, it was exempt from paying a sales or use tax.”
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