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1. A taxpayer that is required to pay taxes by electronic funds transfer and fails to do so is subject to certain penalties and is disallowed the advantage of certain benefits otherwise allowed. Any such taxpayer who fails to pay the amount of tax required on or before the due date of such payment shall be assessed a penalty in the amount of five percent (5%) of the amount of tax due. This penalty is in addition to other penalties imposed under the Arkansas Tax Procedure Act, Ark. Code Ann. § 26-18-101 et seq. (See GR-85.) In addition to such penalties, any such taxpayer who is required to pay by electronic funds transfer and fails to do so by the due date of such payment shall not be allowed the benefit of the discount for prompt payment, or the discount for timely remitting the prepayments required of taxpayers whose average net sales exceed $200,000.00 per month.

2. A taxpayer is considered to have failed to pay taxes by electronic funds transfer if either of the following conditions are not met:

a. In order for an electronic funds transfer by automated clearinghouse “debit” to be effective, the following conditions must be met on or before the due date of the payment:

(1) The taxpayer initiates the automated clearinghouse debit by calling the designated toll-free telephone number by 3:00 p.m. C.S.T. on the last business day prior to the due date;

(2) The taxpayer must have accurately provided the Director with sufficient information from which the payment may be applied to the correct account, including, but not limited to, the taxpayer’s name, account number, tax type, tax period, and the amount of the payment; and

(3) The taxpayer’s bank account designated as the account to be debited contains adequate funds to cover the payment of taxes by debit transfer at the time the debit transaction is initiated and continuing through the due date of the tax payment.

b. In order for an electronic funds transfer by automated clearinghouse “credit” to be effective, the following conditions must be met on or before the due date of the payment:

(1) The taxpayer must have initiated a successful prenote or test transaction containing necessary information in cash concentration or disbursement plus tax payment addendum (CCD + TXP) format. The term “tax payment addendum format” means a technical format for the communication of limited tax remittance data accompanying a payment through the automated clearinghouse system and includes a list of standard tax-type and account-type codes;

(2) The transfer must contain an electronic addenda which allows the Director to identify the taxpayer, tax account number, tax payment amount, tax type, and tax period in accordance with instructions provided by the Director;

(3) The taxpayer must have transferred the amount of funds due; and

(4) The taxpayer’s designated bank account must contain adequate funds to cover the credit transfer at the time the credit transaction is initiated and continuing through the due date of the tax payment.

3. The Department provides an alternative method for making a “same day” payment if an electronic funds transfer for payment of all remittances required under the provisions of Arkansas law fails for any reason. If an electronic funds transfer fails on its due date, then the taxpayer should contact the Department at (501) 682-7105 and provide the following information:

a. Arkansas Sales Tax Permit Number; b. The tax type code;

c. The tax period end date; d. Payment amount; and e. Account information.

G. Returns and remittances by the taxpayer as described in this rule do not constitute an assessment of tax for audit or examination purposes.

Source: Ark. Code Ann. §§ 26-19-101 et seq.; 26-21-108; 26-52-501

GR-78. CASH BASIS RETURNS:

A. Any taxpayer who does business wholly or partly on a credit basis may apply to the Director for permission to prepare returns on the basis of cash actually received. If the Director determines that the State of Arkansas will not suffer any loss of tax upon the gross receipts or gross proceeds derived by the applicant from the sale of tangible personal property or taxable services due to the cash basis method of accounting for gross receipts, the application shall be granted.

B. Any taxpayer making such application shall be taxable on the gross receipts collected by him during the taxable period including, but not limited to, all service charges, late payment penalties collected, bad debts, losses or expenses. No person may report on the cash basis unless permission has been expressly granted by the Director.

C. Any taxpayer who has received permission from the Director to report sales tax on a cash basis must collect local tax on all monies received by the taxpayer after the effective date of any applicable local tax, regardless of the date of service or the billing date.

D. Taxpayer must keep accurate and complete records which reflect the amount of cash sales and credit sales. These records must show collections on accounts and be open for inspection and audit by the Director or his agents. See GR-18(J) and Ark. Code Ann. § 26-52-309.

Source: Ark. Code Ann. § 26-52-502

GR-79. PERSONS LIABLE FOR TAX AND EXEMPTIONS:

A. The tax must be collected, reported, and remitted by the seller of tangible personal property; the seller or collector of admissions to places of amusement, recreational, or athletic events; the seller of privileges of access to, or the use of amusement,

entertainment, athletic, or recreational facilities; and by any other person furnishing any service subject to the tax.

B. CORPORATIONS. If the seller of tangible personal property or taxable services is a corporation and the corporation fails to collect, truthfully account for, and remit the proper amount of tax, interest, and penalty, then the officers or employees of the corporation charged with those duties shall also be personally, jointly, and severally liable for a penalty equal to the amount of the tax.

C. LIABILITY. The sales tax liability for all sales of tangible personal property or taxable services is upon the seller unless the purchaser claims an exemption. (See GR-79(E) and GR-79(F).)