If you are selling or buying a motor vehicle in Arkansas, you will need to complete the state-approved bill of sale to apply the tax credit for a sale.
A bill of sale in Arkansas is a legal document provided by the Arkansas Office of Motor Vehicle (OMV) to document the sales transaction between a seller and a purchaser. Arkansas bill of sale states clearly that on a specific date, with a particular amount, the seller transfers the ownership of the vehicle to the purchaser.
Note: in case you want to use the bill of sale for other valuable assets such as a boat, trailer, motorcycle, etc., you can our corresponding bill of sale for the boat, bill of sale for a trailer, and motorcycle bill of sale, etc. We also provide a blank bill of sale in case you don’t find any specific bill of sale form for the item that you want to sell.
Arkansas OMV accepts a complete title instead of a bill of sale document, but they require the bill of sale in the following situations:
- The seller wants to apply tax credit for sale for selling the used vehicle. In case, the seller wants to register the new vehicle that replaces the sold one within 45 days, either after or before the seller acquires the new vehicle, the seller can apply for a sale tax credit. Arkansas OMV notes the procedure of the criteria and how to get the tax credit very clearly at the end of the bill of sale
- The purchaser wants to register the used vehicle need to have a completed title. The bill of sale is used as the backup paperwork if the title has any issues such as mistake from the seller. In addition, the bill of sale gives the purchaser some information that is not available in the title e.g., seller’s phone number. It is important to the purchaser that a completed title is required to complete the sale with or without the bill of sale.
Arkansas OMV requires both seller and purchaser to complete the following information on the bill of sale:
- Both seller and purchaser detailed information including name, phone number, address, city, zip code, state.
- Information on the vehicle: Year, Make, Model, Vehicle Identification Number (VIN), Odometer reading
- Date when the vehicle is sold and sale price
- Signatures of both seller and purchaser. Arkansas OMV does not require the bill of sale to be notarized.
- There are two sections that contain seller and purchaser’s acknowledgments about the information on the bill of sale as well as the fine if any parties try to attempt to evade payment of tax.
Both purchaser and seller should retain a completed copy bill of sale.
To use the Arkansas bill of sale, you first need to download, open, and print it out. Then you fill out all necessary information and sign the bill.