Bill of Sale - Arkansas Department of Finance and Administration Revenue Division - Credit for Sale of Used Vehicle

Sep 3, 2026

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Bill of Sale form from the Arkansas Department of Finance and Administration, Revenue Division for transactions where a used vehicle is sold and the seller may claim a sales and use tax credit toward a replacement vehicle. Includes purchaser and seller identity and vehicle sale details (year, make, model, VIN, odometer, sale date, and sale price), plus purchaser and seller acknowledgements with felony penalties for false statements. Provides instructions on credit eligibility, timing, documentation requirements, and limits on insurance settlement payments.

LanguageEnglish

CategoryForms

FormatPDF

Pages2

Reading Time1 min

AccessFree to download

Bill of Sale

Purchaser information and acknowledgement

Seller information and acknowledgement

Instructions: Credit for Sale of Used Vehicle

How to take the credit and important requirements

Arkansas Department of Finance and AdministrationRevenue Division # Bill of Sale (For a vehicle claimed as a tax credit toward the purchase of a replacement vehicle) | Purchaser(s)Name(s) | Phone Number | | --- | --- | | Address | | | City,State,Zip | | | | | | Seller(s)Names | Phone Number | | Address | | | City,State,Zip | | | | | | Year,Make,Model of Vehicle Sold | | | Vehicle Identification Number(VIN) | Odometer Reading | | Date Vehicle Sold | Sale Price | Purchaser's Acknowledgement:I(we)hereby swear and affirm that the above information is true and correct.I understand that any attempt to evade or defeat the payment of the proper amount of tax on the aforementioned vehicle by making anyfalse statement is a felony under Arkansas law punishable by fine,imprisonment,or both. | Signature of Purchaser(s) | Date | | --- | --- | Seller's Acknowledgement:I (we)hereby swear and affirm that the above information is true and correct,and that said vehicle was owned and sold by me,and that lam entitled to areduction in the taxable price of a newly acquired vehicle under the provisions of Act 1232 of1997,as amended.Iunderstand that any attempt to evade or defeat payment of the properamount of tax by making any false statement is a felony under Arkansas law punishable byfine,imprisonment,or both. | Signature of Seller(s) | Date | | --- | --- | # INSTRUCTIONSCREDIT FOR SALE OF USED VEHICLE Pursuant to Act 1232 of 1997,as amended by Act 277 of 2021,both the seller andbuyer must sign their names to the billof sale on page 1 of this form in order for theseller to receive a credit.Please remember that a copy should be given to both thepurchaser and seller. IMPORTANT:A settlement payment received from an insurance company doesnot qualify as a sale for this credit. The law provides for a sales and use tax credit for new and used motor vehicles,trailers,or semi trailers purchased on or after July 28,2021,if within 60 days eitherbefore or after the date of purchase,the consumer sells a used motor vehicle,trailer orsemi trailer.The calculation of the tax due is done in the same manner as the trade-incredit that is available to those consumers who trade-in a vehicle.Only a consumerwhose name is on the title of the vehicle sold can take the credit.A consumer meansany private individual,business,organization or association.The credit cannot betransferred to a consumer who did not have title to the vehicle that was sold. How to take the Credit -This credit is taken directly at your local Revenue Office whenregistering a vehicle if the old vehicle has already been sold.To receive immediate taxsavings,simply present a copy of the bill of sale found on the opposite page to yourlocal Revenue Office when registering the new vehicle. Important:If the taxpayer claiming the credit fails to provide a bill of sale signed by allparties to the transaction which reflects the total consideration paid to the seller for thevehicle,tax shall be due on the total consideration paid for the new or used vehicle,trailer or semi trailer without any deduction for the value of the item sold.

FAQs

What is the purpose of this Bill of Sale form in Arkansas?

It documents the sale of a used vehicle so the seller can potentially claim a sales and use tax credit toward the purchase of a replacement vehicle, following Arkansas law requirements.

Who must sign the bill of sale for the credit to be available?

Both the seller and the buyer must sign their names on page 1 of the form so the seller can receive the credit.

Does an insurance settlement payment qualify as a sale for the credit?

No. The instructions state that a settlement payment received from an insurance company does not qualify as a sale for this credit.

Sep 3, 2026

Upload by Cipher