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Committee advances technical change to sales‑tax prepayment timing for large retailers
Summary
HB 1435 moves the look‑back period used to determine sales‑tax prepayment obligations for businesses with average taxable sales of $200,000 per month to the preceding fiscal year (July–June), aligning administrative timing with state budgeting; sponsors describe the bill as a technical cleanup with an emergency clause to make the change effective for the next fiscal year.
Little Rock — The Senate Revenue & Tax Committee approved House Bill 1435, a technical change to the sales‑tax prepayment calculation for businesses that meet the $200,000‑per‑month threshold.
Senator Jim Petty (District 29), sponsor of the bill, told the committee the measure would change the 12‑month period used to calculate whether a business must make periodic…
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