The gross receipts and gross proceeds derived from the sale and purchase of vessels, barges, and towboats of at least a fifty-ton load displacement and parts and labor used in the repair and construction of them are exempt from the state compensating tax levied by this subchapter.
Ark. Code Ann. § 26-53-116
Exemption for sale and purchase of certain vessels
Acts 1979, No. 449, § 1; A.S.A. 1947, § 84-1904.8.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.