AR SB490

Extends the time period for taxpayers to report federal tax corrections to Arkansas from 90 days to 180 days after receiving notice from the Internal Revenue Service

Changes the burden of proof standard to "preponderance of the evidence" for factual disputes in tax controversies, replacing the previous "clear and convincing evidence" standard

Eliminates the prepayment requirement for taxpayers to appeal tax assessments; allows taxpayers to file suit within 180 days without paying taxes first

Requires the Department of Finance and Administration to post written legal opinions and final administrative determinations on the Arkansas.gov website (with confidential information redacted) for transparency

Extends the rebate period for local sales and use tax credits from 6 months to 1 year following the date of purchase or payment