§ 26-60-105 - Tax on transfer instruments -- Additional tax. - Arkansas Statutes

26-60-105. Tax on transfer instruments -- Additional tax.

(a) There is levied on each deed, instrument, or writing by which any lands, tenements, or other realty sold shall be granted, assigned, transferred, or otherwise conveyed to, or vested in, the purchaser, or any other person by the purchaser's direction, when the consideration for the interest or property conveyed exceeds one hundred dollars ($100), a tax at the rate of one dollar and ten cents ($1.10) for each one thousand dollars ($1,000) or fractional part thereof.

(b) In addition to the tax levied in subsection (a) of this section on each deed, instrument, or writing by which any lands, tenements, or other realty sold shall be granted, assigned, transferred, or otherwise conveyed to or vested in the purchaser or purchasers or any other person or persons by his or her or their direction when the consideration for the interest or property conveyed exceeds one hundred dollars ($100), as levied under the provisions of this chapter, there is levied an additional tax of two dollars and twenty cents ($2.20) for each one thousand dollars ($1,000), or fractional part thereof, to be paid by the purchaser and to be allocated and used for the purposes as provided in 15-12-103.