Arkansas Ready for Business Grant recipients should have more time for qualifying expenses under an extension of deadlines in a proposed rulemaking making permanent an emergency rule from December, 2020. The rule would extend the deadline for grant recipients for incurring expenses to September 30, 2021 and to October 31, 2021 for submission of expenses.  Appropriations from the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act fund the Ready for Business Grant Program. The original terms…

New guidance on the Arkansas Department of Finance and Administration (DFA) franchise tax website says that the window to make franchise tax payments through the DFA system will close early in the morning on March 12 and that payments can be made via the Secretary of State’s system beginning March 15. Taxpayers who have not yet paid may wish to wait and pay via the Secretary of State’s system. As we covered last fall,…

Arkansas business taxpayers should be concerned about SB293, which would dramatically change administration of certain sales tax refunds and rebates to require disclosure to local cities and counties. This would substantially erode taxpayer confidentiality protections and the additional compliance costs will likely cost taxpayers millions of dollars. Concerned taxpayers may wish to contact their legislators without delay — the bill is scheduled to be heard by Senate Revenue & Tax tomorrow, February 24. Arkansas allows local jurisdictions to raise revenue through…

Two significant proposals for tax relief for small businesses are making their way through the Arkansas General Assembly that promise hundreds of millions of dollars of tax savings: (1) conformity to federal tax exemptions for PPP loan forgiveness and other coronavirus aid and (2) creating an elective tax regime to allow federal deductibility of Arkansas income tax for business owners. Similar proposals are being adopted in other states. Interested small business taxpayers should consult with their tax advisors about the potential…

HB1468, which was filed today, would establish an independent Arkansas Tax Appeals Commission that would replace the current internal appeals office at the Department of Finance and Administration. The bill is sponsored by Rep. Joe Jett and Sen. Blake Johnson. The Arkansas Tax Appeals Commission would be made up of three commissioners, including a Chief Commissioner coming from the private sector. It promises a streamlined and more balanced system for Arkansas taxpayers. Currently, Arkansas tax appeals of audit assessments and refund claim denials…

Dover Dixon Horne member Matt Boch and Arkansas Department of Finance Assistant Commissioner Paul Gehring will lead the January edition of the Arkansas State Chamber’s RechARge Arkansas webinar program this Friday. The program is titled “Arkansas Tax Amidst an Epidemic: COVID Responses and Major Developments” and will cover how Arkansas has adapted to the new circumstances to provide relief to taxpayers in response to the pandemic, along with other major recent developments in the Arkansas tax world,…

Dover Dixon Horne member Matt Boch and Arkansas Department of Finance Assistant Commissioner Paul Gehring will lead the January edition of the Arkansas State Chamber’s RechARge Arkansas webinar program this Friday. The program is titled “Arkansas Tax Amidst an Epidemic: COVID Responses and Major Developments” and will cover how Arkansas has adapted to the new circumstances to provide relief to taxpayers in response to the pandemic, along with other major recent developments in the Arkansas tax world,…