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AR HB1012

Bill

Official Source

Status

Introduced

11/28/2022

Primary Sponsor

David Ray

Click for details

Origin

House of Representatives

94th General Assembly (2023 Regular)

AI Summary

  • Amends Arkansas Code § 26-51-430(b) to increase the standard deduction for individual taxpayers for tax years beginning on and after January 1, 2023, from $2,200 to $4,400
  • Increases the standard deduction for married couples, allowing each spouse to claim $4,400 for tax years beginning on and after January 1, 2023, up from $2,200
  • Maintains existing standard deduction amounts of $2,000 for tax year 2014 and $2,200 for tax years beginning January 1, 2015

Legislative Description

To Amend The Standard Deduction For Income Tax Purposes; And To Increase The Standard Deduction.

Last Action

Recommended for study in the Interim by Joint Interim Committee on REVENUE & TAXATION- HOUSE

4/6/2023

Committee Referrals

Revenue and Taxation1/9/2023

Full Bill Text

No bill text available