| 1 | 1 | | Stricken language would be deleted from and underlined language would be added to present law. |
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| 2 | 2 | | *JLL074* 12/12/2024 7:14:44 AM JLL074 |
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| 3 | 3 | | State of Arkansas 1 |
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| 4 | 4 | | 95th General Assembly A Bill 2 |
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| 5 | 5 | | Regular Session, 2025 HOUSE BILL 1066 3 |
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| 6 | 6 | | 4 |
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| 7 | 7 | | By: Representative Ray 5 |
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| 8 | 8 | | 6 |
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| 9 | 9 | | 7 |
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| 10 | 10 | | For An Act To Be Entitled 8 |
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| 11 | 11 | | AN ACT TO AMEND THE STANDARD DEDUCTION FOR INCOME TAX 9 |
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| 12 | 12 | | PURPOSES; TO INCREASE THE STANDARD DEDUCTION; AND FOR 10 |
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| 13 | 13 | | OTHER PURPOSES. 11 |
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| 14 | 14 | | 12 |
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| 15 | 15 | | 13 |
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| 16 | 16 | | Subtitle 14 |
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| 17 | 17 | | TO INCREASE THE STANDARD DEDUCTION. 15 |
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| 18 | 18 | | 16 |
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| 19 | 19 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 17 |
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| 20 | 20 | | 18 |
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| 21 | 21 | | SECTION 1. Arkansas Code ยง 26 -51-430(b), concerning the standard 19 |
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| 22 | 22 | | deduction for income tax purposes, is amended to read as follows: 20 |
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| 23 | 23 | | (b)(1) The standard deduction shall be: 21 |
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| 24 | 24 | | (A) For the tax year beginning January 1, 2014, two 22 |
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| 25 | 25 | | thousand dollars ($2,000) per taxpayer; and 23 |
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| 26 | 26 | | (B) For tax years beginning on and after January 1, 2015, 24 |
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| 27 | 27 | | two thousand two hundred dollars ($2,200) per taxpayer ; and 25 |
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| 28 | 28 | | (C) For tax years beginning on and after January 1, 2026, 26 |
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| 29 | 29 | | four thousand four hundred dollars ($4,400) per taxpayer . 27 |
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| 30 | 30 | | (2) In the case of a married couple, each spouse shall be 28 |
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| 31 | 31 | | entitled to claim a standard deduction of: 29 |
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| 32 | 32 | | (A) For the tax year beginning January 1, 2014, two 30 |
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| 33 | 33 | | thousand dollars ($2,000); and 31 |
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| 34 | 34 | | (B) For tax years beginning on and after January 1, 2015, 32 |
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| 35 | 35 | | two thousand two hundred dollars ($2,200) ; and 33 |
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| 36 | 36 | | (C) For tax years beginning on and after January 1, 2026, 34 |
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| 37 | 37 | | four thousand four hundred dollars ($4,400) . 35 |
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| 38 | 38 | | 36 |
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