Arkansas legislation · 95th General Assembly (2025 Regular)
Arkansas HB1907: 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
Status: Failed, May 5, 2025
What the bill says
An act to be entitled an act to amend the income tax deduction for depreciation and the expensing of property; to adopt federal income tax law concerning the deduction for depreciation and the expensing of property; and for other purposes. subtitle 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.
From the introduced text:
An Act To Be Entitled AN ACT TO AMEND THE INCOME TAX DEDUCTION FOR DEPRECIATION AND THE EXPENSING OF PROPERTY; TO ADOPT FEDERAL INCOME TAX LAW CONCERNING THE DEDUCTION FOR DEPRECIATION AND THE EXPENSING OF PROPERTY; AND FOR OTHER PURPOSES. Subtitle 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. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. Arkansas Code § 26-51-428(a)(1), concerning the income tax deduction for depreciation and the expensing of property, is amended to read as follows: (a)(1)(A) Title 26 U.S.C. §§ 167 and 168(a)-(j), as in effect on January 1, 2019, are adopted for the purpose of computing Arkansas income tax liability for property purchased in tax years beginning on or after January 1, 2014. (B) Title 26 U.S.C. §§ 167 and 168, as in effect on January 1, 2025, are adopted for the purpose of computing Arkansas income tax liability for property purchased in tax years beginning on or after January 1, 2025. *JLL319* 03/31/2025 9:42:24 AM JLL319 HB1907 SECTION 2. EFFECTIVE DATE. Section 1 of this act is effective for tax years beginning on or after January 1, 2025. 03/31/2025 9:42:24 AM JLL319
Sponsors
- Robin Lundstrum (R, 18) · primary sponsor