§ 26-57-1207 - Taxable year -- Decal for remainder of year -- First year payment option. - Arkansas Statutes

26-57-1207. Taxable year -- Decal for remainder of year -- First year payment option.

(a) (1) For the purpose of the annual or special vending device decal issued under 26-57-1204, the decal fee year shall begin on the first day of July and end on the last day of the following June. This decal fee year shall be divided into two (2) halves.

(2) The Director of the Department of Finance and Administration shall in each instance issue annual vending device decals for the remainder of the decal year upon payment of the annual vending device decal fee on the basis of the full amount of the annual decal applied for between July 1 and December 31 of the decal fee year, and in return for the payment of an amount of one-half (1/2) of such annual vending device decal fee, for any such annual decal applied for between January 1 and June 30 of the decal fee year.

(b) For the first taxable year that the annual or special vending device decal fee is applicable, the person who is the operator of such vending devices that are subject to registration and payment of such decal fees shall register all such vending devices with the director, but for the first one-half year, after March 31, 1997, the operator shall pay one-half (1/2) of the decal fee for each such vending device on or before January 1, 1998. Thereafter, the entire annual or special vending device decal fee shall be due from the person who is the owner, lessor, renter, or operator of such vending devices on or before July 1 of the applicable taxable year.