The gross receipts and gross proceeds derived from the sale and purchase of vessels, barges, and towboats of at least fifty (50) tons load displacement, and parts and labor used in the repair and construction of them, are exempt from the Arkansas gross receipts tax levied by this chapter.Acts 1979, No. 449, § 1; A.S.A. 1947, § 84-1904.8.
Arkansas Legal Code