Table of Contents
- Download an Arkansas Vehicle / Car Bill of Sale Template – PDF
- Arkansas Bill of Sale Requirements
- Arkansas Boat Bill of Sale
- Arkansas Gun Bill of Sale
1. Download an Arkansas Vehicle / Car Bill of Sale Template – PDF
2. Arkansas Bill of Sale Requirements
In Arkansas, the Department of Finance and Administration manages the Office of Motor Vehicle (OMV), and it is the agency responsible for the registration and titling of vehicles and vessels. They do not require a bill of sale for all sales, since a properly filled out title may take its place legally.
However, there are two situations in which a bill of sale is considered requisite:
- If there is no more room on the title for the seller to sign the vehicle over, a bill of sale will do.
- If the seller would like to apply for a sales tax credit, a bill of sale is needed to show that the vehicle in question was sold within 45 days before or after his or her acquisition of a new vehicle.
OMV forms, including bills of sale, are not available in any other language. The state also does not provide translation services, so you will need to bring your own. If your sales transaction does not require a bill of sale, then you can fill out the bill of sale in any language you choose, as long as the party that receives the document understands it. If a copy has to be filed with the state, then it must be in English.
Number of Copies
If the state requires a bill of sale in order to complete a sales transaction, then you must file a copy with the OMV. It is also customary practice that each party is provided with a copy for their records as a courtesy.
The state of Arkansas provides a document for vehicles, but you can also draft your own bill of sale for a car. Bills of sale do not require notarization. All bills of sale in Arkansas, however, must contain the following information:
- The names, contact information, and signatures and the buyer and seller
- The vehicle identification number or VIN
- The make, model, and year of the vehicle
- The selling price
- The purchase date
- The odometer reading
After Purchasing a Vehicle
Besides a bill of sale, there are many other documents and steps involved in the titling and registration of a vehicle or vessel in Arkansas. Here is a detailed list:
- If you are purchasing a new vehicle, you must get the manufacturer’s certificate of origin signed over to you in order to register it.
- If the vehicle is being leased, you must provide a signed copy of the lien agreement at the time of title transfer.
- You must provide a properly signed title to the buyer, or a bill of sale in its place.
- You must provide an Odometer Disclosure Statement Form, or Form 10-313, on vehicles less than 10 years old.
- You must title and register any vehicle within 30 days of purchase. Also, if you are new to Arkansas, you must title and register your current vehicle in the state within 30 days of establishing residency.
- Prior to registration, you must purchase Arkansas insurance that meets the state’s minimum requirements. You may register your vehicle and transfer title simultaneously. You will need to visit your local state revenue office with a completed Vehicle Registration Application, or Form 10-381, which acts as both a title application and vehicle registration, a bill of sale, if necessary, an Odometer Disclosure Statement Form, or Form 10-313, for vehicles less than 10 years old, proof of being listed for the current year’s tax assessment from your local county assessor, proof of taxes paid, and payment of all registration fees. You must provide your former vehicle’s registration if you plan to transfer plates from one car to another.
- A 6.5% sales tax only applies to any vehicle with a purchase price exceeding $4000, though that tax increases to 7% for Texarkana residents. Local taxes, if applicable, are based on where you reside. The state also institutes a late payment fee on sales tax which is calculated as 10% of the amount owed, and a late fee on vehicles that were registered after 30 days. If you registered the vehicle on time, but have not used it, you may file an Affidavit of Non-Use, or Form 10-300, and claim a late fee exemption. In addition, there are several other fees involved in the registration and titling process in Arkansas. There is a title fee of $10, a specialized license plate fee of $25, and a license plate transfer fee of $1. Arkansas registration fees are calculated based on the type and weight of the vehicle. The base vehicle fees are as follows:
- 3,000 lbs. and under – $17
- 3,001 to 4,500 lbs. – $25
- 4,501 lbs. and over – $30
- Trucks and vans – $21
- Motorcycles less than 250 cubic centimeters – $3
- Motorcycles 250 cubic centimeters or more – $7
- If you are active military and stationed in Arkansas, you may maintain your vehicle registration in your home state along with current insurance, or you may register your vehicle in Arkansas. If you choose to register your vehicle in Arkansas, you are exempt from all assessment and property taxes. To claim the exemption, you must visit your local revenue office with your leave and earnings statement.
3. Arkansas Boat Bill of Sale
A boat bill of sale is only required during vessel registration if you do not have the current registration card, the title lacks room for transfer, or the seller needs proof to obtain a sales tax credit. All vessel bills of sale should contain:
- The names, contact information, and signature of the buyer and seller
- The hull identification number or HIN
- The make, model, and year of the vessel
- The vessel’s horsepower
- The selling price
- The purchase date
- A vessel description
- The trailer, if applicable, must be itemized on the bill of sale or listed on a separate bill of sale if the document is to be used for sales tax credit purposes
Many Arkansas OMV documents contain an official penalty of perjury statement, though the bill of sale does not, per se. It does, however, contain a warning that lying on the document for sales tax credit purposes is considered by the state to be a felony. It reads as follows:
“I understand that any attempt to evade or defeat the payment of the proper amount of tax by making any false statement is a felony under Arkansas law punishable by fine, imprisonment, or both.”
Arkansas Code Section 5-53-102 relays that “a person commits perjury if in an official proceeding he or she knowingly (m)akes a false material statement under an oath required or authorized by law.” Perjury is considered a Class C felony which is punishable by 3 to 10 years of incarceration and fines of up to $10,000.
After Purchasing a Vessel
- Dealers collect sales tax at the time of purchase, whether the vessel is new or used.
- You must apply for your vessel’s registration within 30 days of its purchase. In Arkansas, all vessels propelled by motor or sail must be registered. The exceptions include any vessels that are registered in other states or countries that are using Arkansas waters for 90 consecutive days or less, vessels that documented by the U. S. Coast Guard, and those that are human-propelled, such as canoes and kayaks.
- You must go to your local state revenue office to register your vessel. You may not register your vessel without verification of its HIN. You can do this by submitting a pencil rubbing of the number or by taking a photograph and handing in a copy. You must also submit proof of ownership, such as a bill of sale or the current registration, proof that your taxes were paid or that you are listed for assessment for the current year, provided by your local county assessor, such as a receipt or stamped assessment papers, and proof of Arkansas insurance (if the vessel is a personal watercraft or propelled by an engine with greater than 50 horsepower). Registrations are valid for 3 years.
- Arkansas does not charge sales tax on privately-sold watercraft; however, you must pay registration fees based on the length of your vessel. They are as follows:
- Motorboat less than 16 feet long – $ 7.50
- Motorboat 16 feet to less than 26 feet long – $ 15.00
- Motorboat 26 feet to less than 40 feet long – $ 51.00
- Motorboat 40 feet and over – $105.00
4. Arkansas Gun Bill of Sale
In Arkansas, a firearm permit is not required nor is the registration of firearms. That said, you do not have to submit a bill of sale to the state after a sales transaction involving a handgun or shotgun. However, you may want to keep a firearm bill of sale in your records as it may come in handy in the future. Every gun bill of sale should contain the following:
- The buyer’s and seller’s names, contact information, and signatures
- The make, model, caliber, and serial number
- The purchase price
- The sales date