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The Arkansas Economic Development Commission, part of the Department of Commerce, has been diligently
Arkansas Tax & Incentives Update
Arkansas Tax & Incentives Update, published by Dover Dixon Horne PLLC, focuses on tax legislation, regulatory changes, and incentive programs specific to Arkansas. The blog covers topics such as state income and corporate tax rate changes, tax credits for industries including railroads and motion picture production, property tax valuation challenges, and updates on administrative practices like opinion letter issuance by the Department of Finance and Administration. It also reports on tax conferences and legislative sessions impacting Arkansas tax policy. The content is aimed at businesses, tax professionals, and policymakers interested in Arkansas state tax developments and economic incentives.
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Latest from Arkansas Tax & Incentives Update
Arkansas to 4.9%: Comprehensive Tax Cut Legislation Introduced in the General Assembly Special Session
The Arkansas General Assembly reconvenes on December 7 for its Second Extraordinary Session, with a principal purpose of cutting income taxes. Identical bills SB1 (Dismang) and HB1001 (Maddox) have been filed with large majorities of both chambers signed up as cosponsors.…
Registration Open for the Arkansas Tax Conference on December 2
Registration is open for the 2021 Arkansas Tax Conference of the Arkansas State Chamber of Commerce. This in-person conference will be December 2 at the State House Convention Center in Little Rock. (Attendees must be vaccinated.)
With the dust settling on…
Arkansas DFA Revenue Legal Counsel Narrows Opinion Letter Practice
The Office of Revenue Legal Counsel at the Department of Finance and Administration has substantially restricted its opinion letter practice and is currently only accepting opinion requests that meet its interpretation of Rule GR-75. Income tax opinion requests or requests for…
Arkansas Court of Appeals Recognizes Challenge to Property Tax Assessment on Mineral Rights
The Arkansas Court of Appeals recognized the validity of a taxpayer’s challenge to the valuation of mineral rights in SWN Production Company (Arkansas), LLC V. Stobaugh, 2021 Ark. App. 324 (September 8, 2021). The opinion, which reversed the circuit court’s dismissal of…
Arkansas Sales & Use Tax School: New Faculty and 2021 Seminars Coming Up
For professionals needing an introduction or deep dive into Arkansas sales tax, the Arkansas Sales & Use Tax School will hold sales tax seminars in Little Rock August 26-27 and in Fort Smith September 30-October 1. Faculty will be Jeff…
Buy Computers and Phones Tax Free: Expanded Sales Tax Holiday Coming Up August 7-8
Arkansas consumers in the market for computers, tablets, smartphones, and printers should consider buying this coming weekend, August 7-8, as the state’s customary sales tax holiday has been expanded to include these electronic devices. Individuals and even businesses may even…
Arkansas Tax Appeals Commission Nominating Process Open for CPA Commissioner
With Arkansas having enacted an independent Tax Appeals Commission that will start July 2022 and begin taking cases January 2023, the next step is to find potential commissioners. The three commissioners will be named by the governor from shortlists provided by…
2021 Arkansas Tax Legislation Summary
Arkansas’s 2021 regular legislative session saw the enactment of more than 70 tax-related bills, which DDH tax attorneys have summarized. Highlights from the session include:
- Establishment of an independent Tax Appeals Commission (Act 586);
- $265 million of one-time tax relief through
…
Summary of 2021 Arkansas Income/Franchise Taxes Legislation
Act 154 creates an exemption from income tax for unemployment compensation benefits paid from federal unemployment funds or under Title IV of the Social Security Act for calendar years 2020 or 2021.
Act 248 conforms to the federal exemptions for…