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AR SB434

Bill

Official Source

Status

Passed

4/11/2023

Primary Sponsor

Jonathan Dismang

Click for details

Origin

Senate

94th General Assembly (2023 Regular)

AI Summary

  • Reduces the employee threshold requiring mandatory electronic filing of annual income tax withholding statements from 250 employees to 125 employees
  • Eliminates alternative filing methods (magnetic media and other machine-readable formats) and requires affected employers to file statements electronically only
  • Allows the Secretary of the Department of Finance and Administration to waive the electronic filing requirement if it would cause undue hardship on the employer
  • Effective for tax years beginning on or after January 1, 2024

Legislative Description

To Reduce The Number Of Employees Required To Mandate The Electronic Filing Of Annual Withholding Statements And To Reduce The Methods By Which An Employer Can File Annual Withholding Statements.

Last Action

Notification that SB434 is now Act 644

4/11/2023

Committee Referrals

Revenue and Taxation3/30/2023
Revenue & Taxation3/15/2023

Full Bill Text

No bill text available