Arkansas Motor Vehicle Trade-In Credit Limited

Aug 26th, 2016

The Arkansas Department of Finance and Administration ruled that the motor vehicle trade-in credit did not apply when vehicles were exchanged for a debt forgiveness instead of cash.

Arkansas offers a sales tax trade-in credit for motor vehicle sales. The credit is only available when a vehicle is traded in for cash or a cash equivalent, such as a check or money order. This is because no sale occurs if no cash or cash equivalent is exchanged for property.

https://www.ark.org/dfa-act896/index.php/api/document/download/16-317%2C%2016-318%2C%2016-319.pdf