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AR HB1759
Bill
Status
4/10/2025
Primary Sponsor
Jon Milligan
Click for details
AI Summary
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Extends the deadline for assessing newly acquired tangible personal property from 30 days to 60 days following the date of acquisition
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Changes the window for property requiring the extended assessment period from May 2-31 to April 1-31, giving taxpayers more time to report property acquired in late spring
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Applies to new residents, new businesses established between January 1 and May 31, and existing residents who acquire taxable tangible personal property during this period
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Maintains the 10% penalty exemption for property assessed within the new 60-day window for acquisitions made April 1 through May 31
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Approved April 10, 2025 as Act 551 of the Regular Session
Legislative Description
To Increase The Amount Of Time A Taxpayer Has To Assess Tangible Personal Property Acquired During A Certain Time Period.
Last Action
Notification that HB1759 is now Act 551
4/10/2025