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AR HB1383

Bill

Official Source

Status

Failed

4/22/2015

Primary Sponsor

Charles Collins

Click for details

Origin

House of Representatives

90th General Assembly (2015 Regular)

AI Summary

HB1383 Summary

  • Reduces the state income tax exemption on net capital gains to 50% for tax years beginning on and after January 1, 2015, and to 40% beginning on and after February 1, 2015.

  • Exempts net capital gains in excess of $10,000,000 from state income tax for gains realized on or after January 1, 2014.

  • Amends Arkansas Code § 26-51-815(b) regarding the computation of capital gains and losses.

Legislative Description

To Reduce The Income Tax Applicable To Capital Gains.

Last Action

Died in House Committee at Sine Die adjournment.

4/22/2015

Committee Referrals

Revenue and Taxation3/17/2015

Full Bill Text

No bill text available