Tax Reform and Relief Task Force Tries to Prioritize But Hits a Snag

The Tax Reform and Relief Task Force met on Wednesday, June 26, and two days of scheduled meetings were reduced to a short two-hour morning session. Mid-way through the Agenda the co-chairs announced that the Department of Finance and Administration had discovered a major error in the projected cost of income tax reforms that is sure to have an impact on Task Force recommendations. [More]

How Will Arkansas Respond to the Wayfair Decision?

With the recent Supreme Court decision in Wayfair having removed the traditional physical presence nexus rule, states are determining how to respond and move ahead in ramping up efforts to collect sales and use taxes from remote sellers. While Arkansas does not have a South Dakota-style economic nexus status on the books and ready to come into effect, as a Streamlined Sales Tax state, Arkansas is well positioned to adopt a regulatory or statutory change to require remote sellers to collect tax. [More]

Tax Reform Task Force Members Nominate Excise Tax Proposals, Vote on Property Tax Proposals, and Prioritize $200 Million of Cuts and Reforms

The Arkansas Tax Reform and Relief Legislative Task Force met again June 20 and 21. The extensive proceedings included consideration of property tax proposals, hearing excise testimony and nominating proposals, and having the members individually attempt to prioritize $200 million of tax reform and relief. The Task Force will meet again this coming Tuesday and Wednesday, June 26 and 27, to work over the results of their individual rankings and to identify which proposals to submit for dynamic scoring. [More]