Bill
HB 1501
TO ADOPT FEDERAL INCOME TAX LAW REGARDING DEPRECIATION AND THE EXPENSING OF PROPERTY; AND TO INCREASE THE AMOUNT ALLOWED FOR THE EXPENSING OF CERTAIN DEPRECIABLE BUSINESS ASSETS TO THE AMOUNT ALLOWED UNDER FEDERAL LAW.
2025 Regular Session
Introduced by Howard Beaty and 1 co-sponsor
HB 1501 allows Arkansas businesses to match federal tax rules on bonus depreciation, increasing immediate tax deductions and potentially reducing tax liabilities.
Died in House Committee at Sine Die adjournment.