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AR HB1790
Bill
Status
3/1/2017
Primary Sponsor
Jim Dotson
Click for details
AI Summary
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Amends Arkansas Code § 26-51-703 to modify the definition of when a taxpayer is considered taxable in another state for income apportionment purposes, removing the requirement that activities exceed those protected by 15 U.S.C. §§ 381-385.
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Amends Arkansas Code § 26-51-716 to clarify that sales of tangible personal property are in Arkansas if delivered or shipped to a purchaser within the state regardless of f.o.b. point or sale conditions.
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Modifies the rule for sales shipped from Arkansas locations to apply only when the purchaser is the federal government or the taxpayer is not taxable in the purchaser's state.
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Effective for tax years beginning on or after January 1, 2017.
Legislative Description
To Amend The Income Tax Provisions Concerning The Apportionment Of Business Income; And To Repeal The Throwback Rule.
Last Action
Recommended for study in the Interim by Joint Interim Committee on REVENUE & TAXATION- HOUSE
3/31/2017