The tax shall be paid by the owner or operator of the truck or vehicle in either of the following ways, at the option of the owner or operator:
(1)
(A) By the purchase of a sufficient amount or quantity of fuel from a retail dealer within the State of Arkansas to propel the vehicle the number of miles which the vehicle travels upon the highways of this state.
(B) At the time of the purchase of the fuel, the owner or operator of the vehicle shall obtain from the dealer from whom purchased an invoice or sales ticket, or forms approved by the Secretary of the Department of Finance and Administration, which shall contain the name and address of the seller of the fuel, the name and address of the purchaser, the date of purchase, the amount or quantity and kind of fuel purchased, and the invoice or sales ticket shall remain in the vehicle for the remainder of the trip over the highways of this state.
(C) The invoice or sales ticket shall be preserved and retained by the owner or operator for not less than three (3) years and shall be produced for the inspection and examination of the secretary or his or her authorized agent or employee at any reasonable time and place, either inside or outside this state, upon proper demand for the invoice or sales ticket; or
(2)
(A) By the payment of the amount of tax which would be due upon a sufficient quantity of fuel to propel the vehicle over the highways of this state to the secretary or to his or her agent, representative, or employee.
(B) At the time of payment of the tax, the secretary or his or her employee or representative shall issue to the person paying the tax a receipt showing the amount of tax paid, the name and address of the owner or operator of the vehicle, a description of the vehicle, including the license number and state of registration, the point at which the vehicle entered upon the highways of this state, the destination and the place where the vehicle is to leave the highways of this state, and any other information which the secretary may require, which receipt shall be signed by the secretary or his or her agent or representative.
(C) The receipt shall remain in the vehicle for the remainder of the trip over the highways of this state and thereafter shall be preserved and retained by the owner or operator for a period of not less than three (3) years, and shall be produced for the inspection of the secretary or his or her authorized agent or representative, at any reasonable time and place either within or without this state upon proper demand.