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AR HB1725
Bill
Status
4/3/2019
Primary Sponsor
Michelle Gray
Click for details
AI Summary
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Repeals Arkansas Code § 26-18-508(6), which established a 4% interest rate on deferred estate tax payments and related interest provisions for estate tax deficiencies and overpayments.
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Repeals Arkansas Code § 26-51-514, which allowed businesses or commercial enterprises with 50 or fewer employees a one-time income tax credit equal to 20% of the purchase price of a cigarette receptacle.
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Eliminates the ability to carry forward unused cigarette receptacle tax credits for three consecutive tax years following the year the credit was earned.
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Removes the requirement that the Department of Finance and Administration promulgate rules to implement the cigarette receptacle tax credit provision.
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Approved on April 3, 2019.
Legislative Description
To Repeal Unused Provisions Of The Tax Code; To Repeal The Income Tax Credit For The Purchase Of A Cigarette Receptacle; And To Repeal A Provision Concerning Interest On Estate Tax Deficiencies And Overpayments.
Last Action
Notification that HB1725 is now Act 670
4/3/2019