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AR HB1524

Bill

Official Source

Status

Failed

4/22/2015

Primary Sponsor

Dan Sullivan

Click for details

Origin

House of Representatives

90th General Assembly (2015 Regular)

AI Summary

  • Amends Arkansas Code § 26-51-428(a) to modify depreciation and expensing rules for income tax purposes
  • Adopts federal tax depreciation standards from Title 26 U.S.C. §§ 167, 168(a)-(j), 179, and 179A as in effect on January 2, 2013
  • Changes the effective date for property depreciation calculations from tax years beginning January 1, 2012 to January 1, 2014
  • Removes reference to 26 U.S.C. § 179 as in effect on January 1, 2009 from the depreciation standards

Legislative Description

To Amend The Income Tax Laws Concerning The Depreciation And Expensing Of Property.

Last Action

Died in House Committee at Sine Die adjournment.

4/22/2015

Committee Referrals

Revenue and Taxation3/2/2015

Full Bill Text

No bill text available