| 1 | 1 | | Stricken language would be deleted from and underlined language would be added to present law. |
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| 2 | 2 | | *JLL316* 03/18/2025 1:18:00 PM JLL316 |
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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 SENATE BILL 502 3 |
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| 6 | 6 | | 4 |
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| 7 | 7 | | By: Senator Crowell 5 |
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| 8 | 8 | | By: Representative Eaton 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 ARKANSAS INCOME TAX WITHHOLDING 9 |
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| 12 | 12 | | ACT OF 1965; TO REQUIRE THE ELECTRONIC FILING OF A 10 |
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| 13 | 13 | | FORM 1099 IN CERTAIN CIRCUMSTANCES; AND FOR OTHER 11 |
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| 14 | 14 | | PURPOSES. 12 |
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| 15 | 15 | | 13 |
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| 16 | 16 | | 14 |
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| 17 | 17 | | Subtitle 15 |
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| 18 | 18 | | TO AMEND THE ARKANSAS INCOME TAX 16 |
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| 19 | 19 | | WITHHOLDING ACT OF 1965; AND TO REQUIRE 17 |
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| 20 | 20 | | THE ELECTRONIC FILING OF A FORM 1099 IN 18 |
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| 21 | 21 | | CERTAIN CIRCUMSTANCES. 19 |
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| 22 | 22 | | 20 |
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| 23 | 23 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 21 |
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| 24 | 24 | | 22 |
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| 25 | 25 | | SECTION 1. Arkansas Code Title 26, Chapter 51, Subchapter 9, is 23 |
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| 26 | 26 | | amended to add an additional section to read as follows: 24 |
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| 27 | 27 | | 26-51-921. Filing of form 1099. 25 |
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| 28 | 28 | | (a) A taxpayer that is subject to the withholding requirements of this 26 |
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| 29 | 29 | | subchapter shall file with the Secretary of the Department of Finance and 27 |
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| 30 | 30 | | Administration each Internal Revenue Service form 1099 on which the taxpayer 28 |
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| 31 | 31 | | is the payer. 29 |
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| 32 | 32 | | (b) A form 1099 required to be filed under subsection (a) of this 30 |
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| 33 | 33 | | section shall be filed with the secretary: 31 |
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| 34 | 34 | | (1) On or before January 31 following the close of the income 32 |
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| 35 | 35 | | year in which the form 1099 was issued; and 33 |
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| 36 | 36 | | (2) Electronically, if the payer of the form 1099 files with the 34 |
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| 37 | 37 | | secretary at least one thousand (1,000) form 1099s during the payer's income 35 |
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| 38 | 38 | | year. 36 SB502 |
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| 39 | 39 | | |
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| 40 | 40 | | 2 03/18/2025 1:18:00 PM JLL316 |
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| 42 | 42 | | SECTION 2. EFFECTIVE DATE. Section 1 of this act is effective for tax 2 |
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| 43 | 43 | | years beginning on or after January 1, 2026. 3 |
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