Section 26-59-108 - Exemptions(a) There shall not be imposed any estate taxes, inheritance taxes, or transfer taxes upon the succession of title to any property from any person, association, company, or corporation, whether resident or nonresident of this state, passing to or for the use of: (1) The State of Arkansas or to or for the use of municipal corporations or other political subdivisions thereof for exclusively public purposes;(2) Public institutions of learning; or(3) Any public hospital not for profit within this state.(b) No estate taxes, inheritance taxes, or transfer taxes levied by this state shall be imposed upon any bequest made by a resident of this state to any religious, charitable, or educational institution, organization, or foundation, whether incorporated or unincorporated, no part of the net earnings of which inures to the benefit of any private stockholder or other individual or corporation, even though the institution, organization, or foundation is located in another state, if the law of such other state provides an equal and like exemption for bequests made by residents of that state to such institutions, organizations, or foundations located in this state.Acts 1943, No. 19, § 1; 1963, No. 25, § 1; 1965, No. 169, § 1; A.S.A. 1947, § 63-151.