1. (a)

   1. (1) Sales of tangible personal property and taxable services to state chartered credit unions are subject to the gross receipts tax.
   2. (2) Sellers are required to collect and remit the tax on the gross receipts or gross proceeds derived from taxable sales made to state chartered credit unions.
2. (b) Pursuant to 12 U.S.C. § 1768, sales to federally chartered credit unions are exempt from gross receipts tax.

Codification Notes: This section as promulgated prior to codification into the Code of Arkansas Rules contained a footnote as follows: "Source: Ark. Code Ann. § 26-52-305"