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Bill to conform Arkansas depreciation rules to federal code would boost first‑year writeoffs, sponsors say
Summary
Representative Howard Beatty presented House Bill 1501 to conform state depreciation to federal Section 168 bonus‑depreciation rules; sponsors said it would incentivize business investment but committee heard a substantial projected general‑revenue reduction in the bill packet.
Representative Howard Beatty presented House Bill 1501 to the Revenue & Taxation Committee as a measure to align Arkansas' tax code with federal depreciation rules under Internal Revenue Code section 168. Beatty said the change would permit larger first‑year deductions—so‑called bonus depreciation—for qualifying business property placed in service, and that proponents view…
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