Act 142 expands the fly-away exemption to all aircraft by removing the certified maximum take-off weight that must be present for the sale of an aircraft to be exempt. Likely effective October 1, 2021.
Act 144 is a technical corrections
Arkansas Tax & Incentives Update
Latest from Arkansas Tax & Incentives Update - Page 2
Summary of 2021 Arkansas Property Tax Legislation
Act 267 increases the maximum rate for certain levee or drainage improvement districts from 25 cents an acre to $2.50 an acre on rural lands.
Act 278 updates various property tax laws to clearly provide for the validity and sufficiency…
Summary of 2021 Arkansas Miscellaneous Taxes Legislation
Act 153 allows the Director of the Department of Workforce Services to non-charge unemployment benefits, so that they do not affect employers’ individual accounts if the benefits result from a declared disaster. Effective for benefits claimed starting the week ending…
Summary of 2021 Arkansas Tax Credits and Incentives Legislation
Act 563 extends the period for completing a water conservation project under the Water Resource Conservation and Development Incentives Act to five years (instead of three years). Effective retroactive for all projects for which a certificate was issued on or…
Summary of 2021 Arkansas Tax Procedure Legislation
Act 65 establishes a system of review of administrative rules whereby the Legislative Council reexamines agency rules and considers which rules to extend or repeal.
Act 143 requires tax preparers that file their clients’ federal income tax returns electronically to…
Summary of 2021 Arkansas Abandoned and Unclaimed Property Legislation
Act 77 amends the law governing the notice and publication requirements for abandoned property.
Act 86 sets $18,000,000 as the amount of Unclaimed Property Act funds transferred to general revenues per year; previously it had been all funds held more…
Arkansas Franchise Tax Deadline 2021 Extended, Penalties & Interest Waived if Paid by July 15
Arkansas businesses have another 70 days to pay their annual franchise taxes.
Secretary of State John Thurston announced on April 16 that late fees and interest charges on businesses’ annual franchise taxes will once again be waived until July 15,…
Arkansas Franchise Tax Deadline Extended to July 15, 2021
Secretary of State John Thurston announced on April 16 that late fees and interest charges on businesses’ annual franchise taxes will once again be waived until July 15. The filing deadline is typically May 1, and companies filing late typically would…
DFA Assessment Coordination Proposes Property Tax Exemption Rules Requiring Every Exempt Parcel to Reapply
The Assessment Coordination Division (ACD) of the Arkansas Department of Finance and Administration has proposed rules on tax exemption determinations as mandated by Act 819 of 2019. The rules would require every exempt parcel to reapply for exemption in 2023,…
Free Webinar: New Arkansas Tax Legislation & What It Means for Your Business
With the legislative session wrapping up, Dover Dixon Horne member Matt Boch and Arkansas Department of Finance Assistant Commissioner Paul Gehring will present a webinar to discuss new Arkansas tax legislation passed by the 93rd General Assembly. The webinar is…