The Arkansas Vehicle Bill of Sale (Credit for Vehicle Sold) is a document that records the sale or transfer of a vehicle (used motor vehicles, trailers, and semi-trailers) from the seller to the buyer. This form was released by the Revenue Division of the Arkansas Department of Finance and Administration. The Arkansas law allows for sales and use tax credit for motor vehicle sales - a certain amount of money that a taxpayer can subtract from the taxes owed to the government. If a consumer buys a new vehicle and within 45 days before or after the date of the purchase sells a different vehicle, this individual is entitled to receive a credit of the sales or use tax on the new item. The latest edition of the form is available for download below.
This bill of sale is not the only form used to sell a vehicle, because its scope of application is limited. If the purchase of the new vehicle has not or will not occur, you need to use the State of Arkansas Vehicle Bill of Sale/Odometer Disclosure Statement. This document provides the description of the vehicle, buyer/company information, dealer's/seller's name and address, date of the purchase, and the sales price information.