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AR HB1907
Bill
Status
5/5/2025
Primary Sponsor
Robin Lundstrum
Click for details
AI Summary
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Updates Arkansas income tax law to adopt federal depreciation and property expensing rules (26 U.S.C. §§ 167 and 168) as in effect on January 1, 2025, replacing the previous January 1, 2019 reference date
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Applies to property purchased in tax years beginning on or after January 1, 2025
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Adopts the full federal depreciation provisions (§168 in its entirety) rather than the more limited subsections (a)-(j) that were previously referenced
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Effective for tax years beginning on or after January 1, 2025
Legislative Description
To Amend The Income Tax Deduction For Depreciation And The Expensing Of Property; And To Adopt Federal Income Tax Law Concerning The Deduction For Depreciation And The Expensing Of Property.
Last Action
Died in House Committee at Sine Die adjournment.
5/5/2025