HB1818

House Bill 1818 amends Arkansas law regarding the mandatory prepayment of sales tax for retailers. The bill increases the monthly average net sales threshold that triggers the requirement for retailers to prepay sales tax from $200,000 to $500,000. Under current law, retailers exceeding the threshold must make tax prepayments via electronic funds transfer based on specific payment options. By raising this threshold, the bill reduces the number of businesses required to participate in the prepayment system. The act includes an emergency clause, necessitating its immediate effect on July 1, 2023, to alleviate compliance burdens on businesses deemed to be in an untenable position under existing requirements.