Mission Accomplished: Arkansas Adopts Major Tax Reforms Recommended by Task Force

Last Tuesday, April 9, saw Governor Hutchinson's signing ceremony for a pair of bills comprising many of the Tax Reform and Relief Legislative Task Force's recommended reforms: Act 822 (SB576) requires remote seller collection and provides three major business income tax reforms. Act 819 (SB561) adopts several administrative reforms. Coupled with the individual tax cuts of Act 182 enacted earlier this year, this session has paid off with a comprehensive set of reforms that make significant improvements while fitting sustainably within the state's fiscal and political constraints. [More]

Tax Reform Task Force Sees Draft Bills, Scrutinizes Credit Programs, and Weighs Tax Triggers and Revenue Projections

The Arkansas Tax Reform and Relief Legislative Task Force convened again on September 26 and 27 to hear additional testimony and refine its proposals. It was an eventful day-and-a-half: Draft bills for some Task Force proposals were introduced. The Task Force scrutinized tax credit programs with an eye toward raising revenue. And Task Force members debated how to structure long-term implementation of the Task Force's planned cuts and reforms. [More]

Mixed Messages on Arkansas Implementation of Wayfair for Remote Sellers

While there have been no fundamental changes since our prior post on the state's options for taking advantage of Wayfair's termination of the physical presence nexus rule, evolving discussions and inconsistent guidance warrant an update: State leaders are still evaluating their options and appear to be leaning toward legislation in the 2019 legislative session. Informal DFA interim guidance indicating that remote sellers should collect does not appear to be supported by any actual binding law. [More]