Arkansas Sample Letter for Ad Valorem Tax Exemption
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How to fill out Sample Letter For Ad Valorem Tax Exemption?
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FAQ
Arkansas is among a group of 32 states that offer agricultural producers a sales-tax exemption on all six major categories, including machinery, fuel, chemicals, seed, animals, and feed.
Arkansas Statute 26-3-306 provides tax exemption for homestead and personal property owned by the disabled veteran and, with restrictions, the surviving spouse and minor dependent children for residents of Arkansas.
Tax-exempt customers Some customers are exempt from paying sales tax under Arkansas law. Examples include government agencies, some nonprofit organizations, and merchants purchasing goods for resale. Sellers are required to collect a valid exemption or resale certificate from buyers to validate each exempt transaction.
Gross receipts derived from the sale of dairy products by a dairy product producer are exempt from the tax. A. Dairy product producer must own less than six (6) dairy cows.
If you have a question or need additional information, please contact the Sales and Use Tax Section at (501) 682-7104.
Send the following to the Arkansas Department of Finance and Administration: A copy of the IRS Determination Letter (proof of 501c3 status) Copies of the first and second pages of the IRS Form 1023 (or 1024) A statement declaring Arkansas tax exemption.
Ranches, institutional farms, experimental and research farms, and Indian Reservations are included as farms. Places with the entire acreage enrolled in the Conservation Reserve Program (CRP), Wetlands Reserve Program (WRP), and other government conservation programs are counted as farms.
Your ad valorem (Latin for ?ing to value?) general taxes are billed one year behind and are calculated by multiplying the ?taxable value? (20% of the appraisal value established by the Assessor) times the millage rate (a mill is 1/10th of a penny). Click to view the 2022-2023 Millage Rate Chart.
