Arkansas Tax Reform Task Force Terminates PFM Group Consultants (After Hearing About Income Tax)

The Tax Reform Task Force heard from its tax consultant PFM Group about individual and corporate income tax policy during its meeting today (January 8, 2018), and in a surprise move it voted to terminate PFM's contract following the presentations. With PFM no longer involved, taxpayers should be especially careful as the Task Force heads toward consideration of substantive policy proposals. [More]

Property Tax and Multistate Comparison Topics Under Consideration at Tax Reform Task Force

After a lengthy meeting yesterday, today's Arkansas Tax Reform Task Force meeting featured third-party consultant PFM's report on regional tax comparisons, followed by an intensive consideration of property tax issues. The regional comparison was informative but did not raise too many questions. The property tax part of the meeting highlighted several questions and issues, most notably regarding the fiscal impact on school districts from property tax appeals by major taxpayers. [More]

Tax Reform Task Force Hears from Other States’ Experiences

The Arkansas Tax Reform Task Force met on Tuesday, December 5, 2017, with a lengthy agenda to hear best practices from legislators and other leaders visiting from Indiana, Kansas, North Carolina, and Oklahoma. Key themes included income tax rate reductions for both corporate and individual taxpayers, elimination of taxes or policies that penalize in-state business activity, incrementalism instead of making radical changes, the importance of spending control in tandem with tax reform, and the role of tax policy as but one key factor among several (education, workforce, infrastructure, etc.) for economic development. [More]