Maintain Booneville City 1% Sales Tax
Under the authority of the Authorizing Legislation, there is hereby levied a one (1%) tax on the gross receipts from the sale at retail withing the City of all items which are subject to the Arkansas Gross Receipts Tax Act of 1941, as amended (A.C.A. 26-52-101, et seq.) and the imposition of an excise (or property subject to the Arkansas Compensating Tax Act of 1949, as amended (A.C.A. 26-53-101, et seq.) at the rate of one percent (1%) 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 term Single Transaction as it may pertain to the sales and use tax shall be defined from time to time by the Arkansas Legislature. That said Sales and Use Tax is to be collected for and appropriated for the following municipal purposes in accordance with the percentages as stated: Streets and drainage, 5%; Police 22%; Fire, 10%; Area Agency/Senior Center, 10%; Airport, 7%; Parks & Recreation, 5%; City Improvement, 30%; Animal Control, 5%; Cemetery, 2%; BDC/Chamber, 4%. That said tax will be for a term of five years.The total proposed 1% Sales and Use Tax represents the same rate presently being levied.
