(A) There is hereby levied a ½% tax on the gross receipts from the sale at retail within the county of all items which are subject to the Arkansas Gross Receipts Act of 1941, as amended, the same being A.C.A. § 26-52-101 et seq., and the imposition of an excise (or use) tax on the storage, use, distribution or other consumption within the county of tangible personable property subject to the State Compensating Tax Act of 1949, as amended, the same being A.C.A. § 26-53-101 et seq., at a rate of ½% of the sale price of the property or, in the case of leases or rentals, of the lease or rental price, collectively hereafter referred to as the Sales and Use Tax. The Sales and Use Tax shall be levied and collected only on the first $2,500 for each single transaction. After the charge (currently 3%) is deducted by the State Treasurer for the services of the State of Arkansas in collecting and distributing the collections of the Sales and Use Tax, the remaining collections of the Sales and Use Tax (the net collections) shall be distributed to the county and the municipalities therein as described below.
(B) Net collections of the Sales and Use Tax shall be used as follows:
(1) Two-thirds of the Net Collections shall be deposited with the County Treasurer and used to operate and maintain county owned and operated jail and criminal justice facilities; and
(2) One-third of the net collections shall be divided among the county and the municipalities therein based upon population, and each governmental entity’s share shall be distributed to its treasurer and shall be used by each governmental entity for its general operations and purposes of its government; provided, however, that 10% of the county’s share of net collections under this division shall be used to make capital improvements in the unincorporated areas of the county.
(Ord. 98-11, passed 9-4-1998)
Cross-reference:
Tax rebates, see § 35.03