2019 Arkansas Code
Title 26 - Taxation
Subtitle 5 - State Taxes
Chapter 57 - State Privilege Taxes
Subchapter 2 - Arkansas Tobacco Products Tax Act of 1977
§ 26-57-229. Permit Holder as Wholesaler and Retailer
(a)
(1) A person who is permitted as a wholesaler and as a retailer shall maintain separate wholesale and retail inventories and records.
(2) Separate inventories are not required under subdivision (a)(1) of this section if:
(A) Stamps denoting payment of the excise tax on the wholesale and retail inventory of cigarettes are properly affixed to the cigarettes; or
(B) Records clearly show that the excise tax has been paid on all other inventory of tobacco products.
(b)
(1) Every wholesaler who maintains a business as a retailer shall keep a record of his or her wholesale operations showing the number of stamps purchased, if any, and all purchases from whatever source, and all sales whether to himself or herself as retailer or to another.
(2) This record is subject to inspection by the Department of Finance and Administration and the Arkansas Tobacco Control Board.
(c) Records shall be kept on forms prescribed by the Secretary of the Department of Finance and Administration.
(d) If a wholesaler refuses to keep the records required by or to comply with this section, the Director of Arkansas Tobacco Control may revoke all permits that have been issued to the wholesaler.
