The state sales tax rate paid by purchasers of used vehicles, trailers and semi-trailers priced between $4,000 and $10,000 dropped to 3.5% Saturday, thanks to a state law passed in 2021. The previous rate was 6.5%. Vehicles priced below $4,000 already are exempt from the sales tax. Act 1013 — sponsored by Rep.
Do you pay sales tax on a trailer in Arkansas?
Currently, Arkansas law provides that the sale or purchase of a new or used motor vehicle, trailer, or semitrailer for less than $4,000.00 is exempt from sales and use tax.
How much is sales tax on a camper in Arkansas?
Arkansas collects a 6.5% state sales tax rate on the purchase of all vehicles which cost more than 4,000 dollars.
How much will my sales tax be in Arkansas?
6.500%
The state Use Tax rate is the same as the Sales Tax rate, 6.500%. In addition, you are required to remit the city and/or county tax where the items are first delivered in Arkansas. A list of tax rates for cities and counties may be obtained from the Sales Tax and Use Tax Section or downloaded from our website.
At what price do you not have to pay sales tax on a vehicle in Arkansas?
Vehicles priced under $4,000 are exempt from sales tax. Vehicles priced from $4,000 to $10,000 are taxed at 3.5%. Vehicles priced over $10,000 are taxed at 6.5%.
Do you pay sales tax on a boat trailer in Arkansas?
Arkansas does not charge sales tax on casual sales (individual to individual) for boats. Replacement registrations may be obtained for a fee of $1.00. The certificate of number (pocket sized registration card) must be onboard and available for inspection by an enforcement officer whenever the motorboat is operated.
What is exempt from sales tax in Arkansas?
Some goods are exempt from sales tax under Arkansas law. Examples include prescription drugs, purchases made with food stamps, and some farming equipment.
Do you have to pay sales tax on used ATV in Arkansas?
Arkansas currently has a sales tax exemption for sales of four-wheelers and ATVs that are not subject to vehicle registration and satisfy the definition of “farm equipment and machinery.” “Farm equipment and machinery” means equipment and machinery that are used in farming for commercial purposes in the production of
How much is vehicle property tax in Arkansas?
The assessment is 20 percent applied to the “true market value” of real property and to the usual selling price of personal property. The tax due is calculated as the assessed value times the local mileage rate.
Do you have to tag a homemade trailer in Arkansas?
No. Although you’ll need to register your trailer, Arkansas only requires titles for motorized vehicles.
What is Arkansas sales tax in 2022?
6.5%
Current Tax Rate is 6.5% (non-food items).
Why is sales tax so high in Arkansas?
In addition to having one of the broader sales tax bases in the country, Arkansas also has the third highest average sales tax rate in the country (including local sales tax rates). Together, these mean that Arkansas is heavily reliant on the sales tax for funding state and local government services.
How do you calculate sales tax?
Multiply retail price by tax rate
Let’s say you’re buying a $100 item with a sales tax of 5%. Your math would be simply: [cost of the item] x [percentage as a decimal] = [sales tax]. That’s $100 x .
How much is tax title and registration in Arkansas?
How to estimate Arkansas tax, title, and registration fees
| Cost | Average cost |
|---|---|
| Sales tax | 9.133% |
| Registration fee | $17 to $30 |
| Title fee | $10 |
| Plate transfer | $1 |
Do you have to pay sales tax on used vehicles in Arkansas?
The sales tax sits at 6.5% for used vehicles. Arkansans do not have to pay the sales tax on used vehicles that cost fewer than $4,000.
How much will my tags cost in Arkansas?
Registration fees
| 3,000 pounds or less | $17.00 |
|---|---|
| 3,001 – 4,500 pounds | $25.00 |
| 4,500 pounds and over | $30.00 |
Do you have to register a boat trailer in Arkansas?
In Arkansas, you must have an Arkansas Certificate of Number (registration) and validation decals to operate a motorboat legally on Arkansas public waters. The only exceptions are: Vessels that are propelled solely by sails.
Are boat trailers titled in Arkansas?
Arkansas has no law requiring the issuance of title for watercraft. Therefore, lienholders cannot file a lien on watercraft that is reflected in the Office of Motor Vehicle records, other than watercraft listed on a lien contract surrendered for the watercraft trailer.
Does a bill of sale have to be notarized in Arkansas?
Bills of sale do not require notarization. All bills of sale in Arkansas, however, must contain the following information: The names, contact information, and signatures and the buyer and seller. The vehicle identification number or VIN.
Do you have to pay sales tax on a used mobile home in Arkansas?
Arkansas has a sales tax exemption on the sale of a mobile home, or on a subsequent sale of a manufactured or modular home. ACT 1068 of 1985 created a full sales tax exemption on the sale of a manufactured home, including a modular home and a mobile home.
Who qualifies for Arkansas farm tax exemption?
For a purchase to qualify for this farm exemption, the following conditions must be satisfied: 1. The purchaser must be engaged in the production of food, fiber, grass sod, or nursery items as a business; 2. The item purchased must be an item of farm machinery or equipment; 3.