AR SB483

Repeals the income tax apportionment throwback rule to enhance economic competitiveness and encourage multistate business investment and job creation in Arkansas.

Removes the throwback rule provision that required sales without nexus in a destination state to be "thrown back" to the originating state for tax purposes.

Amends Arkansas Code § 26-5-101 (Multistate Tax Compact) and § 26-51-716 to eliminate language making sales taxable when the taxpayer is not taxable in the state of the purchaser.

Effective for tax years beginning on or after January 1, 2022.