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AR HB1402

Bill

Official Source

Status

Passed

4/7/2015

Primary Sponsor

Matthew Shepherd

Click for details

Origin

House of Representatives

90th General Assembly (2015 Regular)

AI Summary

  • Amends Arkansas Code § 26-51-815(b)(2) to modify the capital gains tax exemption percentages: 50% exemption from January 1-31, 2015; 45% exemption beginning February 1, 2015; and 50% exemption beginning July 1, 2016.

  • Adds a new provision exempting net capital gains exceeding $10,000,000 from state income tax for gains realized on or after January 1, 2014.

  • Approved April 7, 2015, as Act 1173 of the Regular Session.

Legislative Description

To Amend The Income Tax Applicable To Capital Gains.

Last Action

Notification that HB1402 is now Act 1173

4/7/2015

Committee Referrals

Revenue & Taxation3/25/2015
Revenue and Taxation2/18/2015

Full Bill Text

No bill text available