The assessment is levied to promote the growth and development of the catfish industry in Arkansas by research, extension, promotion, and market development. The assessment is reported/paid by the seller of catfish feed. Monthly reporting forms are mailed out by the Miscellaneous Tax Section and are required to be completed/filed by the 15th day of each month following the report month.
Taxation
The assessment rate is $1.00 per ton of catfish feed sold. The seller is entitled to a 1% commission of the gross amount of the assessment to cover the cost of compliance, which results in a $0.99 per ton net assessment. A catfish producer may request and receive a refund of the catfish feed assessment, provided he or she makes a written application within 60 calendar days after the date of sale. The application must contain a schedule detailing eligible transactions and copies of sales slips from the seller of the catfish feed reflecting the assessment paid.
Applicable Statutes
AR Code Ann. §2-9-101 et seq.
