| 1 | 1 | | Stricken language would be deleted from and underlined language would be added to present law. |
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| 2 | 2 | | *RWO009* 1/5/2023 8:59:06 AM RWO009 |
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| 3 | 3 | | |
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| 4 | 4 | | State of Arkansas 1 |
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| 5 | 5 | | 94th General Assembly A Bill 2 |
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| 6 | 6 | | Regular Session, 2023 SENATE BILL 39 3 |
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| 7 | 7 | | 4 |
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| 8 | 8 | | By: Senator J. Boyd 5 |
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| 9 | 9 | | By: Representatives L. Johnson, Crawford, Gramlich 6 |
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| 10 | 10 | | 7 |
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| 11 | 11 | | For An Act To Be Entitled 8 |
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| 12 | 12 | | AN ACT TO AMEND THE GROSS RECEIPTS TAX L AWS; TO 9 |
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| 13 | 13 | | REQUIRE THE GROSS RE CEIPTS TAX DUE ON TH E RETAIL 10 |
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| 14 | 14 | | PURCHASE OF A NEW OR USED MOTORBOAT TO BE REMITTED BY 11 |
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| 15 | 15 | | THE BUYER DIRECTLY T O THE DEPARTMENT OF FINANCE AND 12 |
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| 16 | 16 | | ADMINISTRATION; AND FOR OTHER PURPOSES. 13 |
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| 17 | 17 | | 14 |
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| 18 | 18 | | 15 |
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| 19 | 19 | | Subtitle 16 |
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| 20 | 20 | | TO REQUIRE THE GROSS RECEIPTS TAX DUE ON 17 |
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| 21 | 21 | | THE RETAIL PURCHASE OF A NEW OR USED 18 |
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| 22 | 22 | | MOTORBOAT TO BE REMITTED BY THE BUYER 19 |
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| 23 | 23 | | DIRECTLY TO THE DEPARTMENT OF FINANCE AND 20 |
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| 24 | 24 | | ADMINISTRATION. 21 |
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| 26 | 26 | | 23 |
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| 27 | 27 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 24 |
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| 28 | 28 | | 25 |
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| 29 | 29 | | SECTION 1. Arkansas Code Title 26, Chapter 52, Subchapter 5, is 26 |
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| 30 | 30 | | amended to add an additional section to read as follows: 27 |
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| 31 | 31 | | 26-52-524. Direct payment of tax by buyer — New and used motorboats 28 |
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| 32 | 32 | | sold at retail. 29 |
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| 33 | 33 | | (a) As used in this subdivision: 30 |
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| 34 | 34 | | (1) "Motorboat" means the same as defined under § 27 -101-103(5); 31 |
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| 35 | 35 | | and 32 |
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| 36 | 36 | | (2) "Seller" means a motorboat dealer and not an individual. 33 |
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| 37 | 37 | | (b) The consumer shall pay to the Secretary of the Department of 34 |
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| 38 | 38 | | Finance and Administration the tax levied by this chapter and all other g ross 35 |
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| 39 | 39 | | receipts taxes levied by the state with respect to the sale of a new or used 36 SB39 |
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| 40 | 40 | | |
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| 41 | 41 | | 2 1/5/2023 8:59:06 AM RWO009 |
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| 42 | 42 | | |
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| 43 | 43 | | |
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| 44 | 44 | | motorboat required to be registered in this state under § 27 -101-304, instead 1 |
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| 45 | 45 | | of the taxes being collected by the seller. 2 |
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| 46 | 46 | | (c)(1) The consumer shall remit the gross receipt s tax at or before 3 |
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| 47 | 47 | | the time of registration required under § 27 -101-304. 4 |
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| 48 | 48 | | (2) If the consumer fails to pay the taxes when due: 5 |
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| 49 | 49 | | (A) There is assessed a penalty equal to ten percent (10%) 6 |
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| 50 | 50 | | of the amount of taxes due; and 7 |
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| 51 | 51 | | (B) The buyer shall pay to the secretary the penalty under 8 |
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| 52 | 52 | | subdivision (c)(2)(A) of this section and the taxes due before the secretary 9 |
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| 53 | 53 | | issues completes the registration of the motorboat. 10 |
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| 54 | 54 | | 11 |
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| 55 | 55 | | SECTION 2. Section 1 of this act is effective on the first day of t he 12 |
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| 56 | 56 | | calendar quarter following the effective date of this act. 13 |
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