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AR HB1538
Bill
Status
5/5/2025
Primary Sponsor
David Ray
Click for details
AI Summary
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Increases the net operating loss (NOL) carry-forward period from 10 years to 20 years for losses occurring in tax years beginning on or after January 1, 2025
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Extends the NOL carry-forward period for qualified medical companies from 15 years to 20 years
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Applies the 20-year carry-forward period to steel manufacturers and steel mills qualifying under existing incentive programs
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Aligns Arkansas more closely with federal law, which allows indefinite NOL carry-forwards at 80% per year, and with other states that provide 20-year or uncapped carry-forward periods
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Effective for tax years beginning on or after January 1, 2025
Legislative Description
To Amend The Law Concerning The Net Operating Loss Income Tax Deduction; And To Increase The Carry-forward Period For The Net Operating Loss Income Tax Deduction.
Last Action
Died in House Committee at Sine Die adjournment.
5/5/2025