AR HB1294

Repeals Uncodified Acts 2007, No. 613, § 2 as obsolete because the contingency condition was met on August 10, 2007

Repeals Arkansas Code § 26-51-428 as obsolete, which adopted federal depreciation and expensing rules (26 U.S.C. §§ 167, 168, 179, and 179A) for computing Arkansas income tax liability

Amends Arkansas Code § 26-51-506(b)(17)(A) to add the article "a" before "common controlling ownership interest" for grammatical clarity in the qualified growth projects definition

Amends Arkansas Code § 26-57-203(27) to correct a grammatical error in the definition of "retailer" under the Arkansas Tobacco Products Tax Act of 1977

Amends Arkansas Code § 26-57-610(b)(3) to remove an internal reference to repealed subdivision (b)(4) concerning disposition of insurance premium taxes