§ 90-32. Levy.

Under the authority of the authorizing legislation, there is hereby levied a one percent tax on the gross receipts from the sale at retail within the city of all items which are subject to the Arkansas Gross Receipts Act of 1941, as amended (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 city of tangible personal property subject to the Arkansas Compensating Tax Act of 1949, as amended (A.C.A. § 26-53-101 et seq.), at a rate of one percent of the sale price of the property or, in the case of leases or rentals, of the lease or rental price (collectively, the "sales and use tax"). The sales and use tax shall be levied and collected on the gross receipts, gross proceeds or sales price in the maximum amount allowed from time to time under Arkansas statutes, subject to rebates and limitations as required for certain single transactions as from time to time required by Arkansas statutes.

(Code 1978, § 3.16.02; Ord. No. 13-25, § 1, 6-4-2013)