Arkansas 2025 Regular Session

Arkansas Senate Bill SB558 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	Stricken language would be deleted from and underlined language would be added to present law.
2	2	JLL092 03/21/2025 4:34:11 PM JLL092
3	3	State of Arkansas 1
4	4	95th General Assembly A Bill 2
5	5	Regular Session, 2025 SENATE BILL 558 3
6	6	4
7	7	By: Senator Crowell 5
8	8	By: Representative Hollowell 6
9	9	7
10	10	For An Act To Be Entitled 8
11	11	AN ACT TO AMEND THE LAW CONCERNING INCOME TAX 9
12	12	RETURNS; TO REQUIRE THE ELECTRONIC FILING OF CERTAIN 10
13	13	CORPORATE INCOME TAX RETURNS; AND FOR OTHER PURPOSES. 11
14	14	12
15	15	13
16	16	Subtitle 14
17	17	TO REQUIRE THE ELECTRONIC FILING OF 15
18	18	CERTAIN CORPORATE INCOME TAX RETURNS. 16
19	19	17
20	20	BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 18
21	21	19
22	22	SECTION 1. Arkansas Code § 26 -51-804, concerning corporation income 20
23	23	tax returns, is amended to add an additional subsection to read as follows: 21
24	24	(f)(1) A taxpayer filing a return under this section that would be 22
25	25	required to file the taxpayer's return electronically with the Internal 23
26	26	Revenue Service under 26 C.F.R. § 301.6011 -5, as it existed on February 23, 24
27	27	2023, shall file the return required under this section electronically. 25
28	28	(2) A taxpayer filing a return under this section that is a 26
29	29	member of an affiliated group in a federal consolidated return in which the 27
30	30	federal parent corporation would be required to file electronically with the 28
31	31	Internal Revenue Service under 26 C.F.R. § 301.6011 -5, as it existed on 29
32	32	February 23, 2023, shall file the taxpayer's state return electronically 30
33	33	under this section. 31
34	34	(3) The Secretary of the Department of Finance and 32
35	35	Administration may waive the electronic filing requirement under subdivision 33
36	36	(f)(1) or subdivision (f)(2) of this section for a taxpayer only if the 34
37	37	secretary determines that filing the return electronically would cause an 35
38	38	undue hardship on the taxpayer. 36 SB558
39	39
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41	41	1
42	42	SECTION 2. Arkansas Code § 26 -51-805, concerning consolidated 2
43	43	corporate income tax returns, is amended to add an additional subsection to 3
44	44	read as follows: 4
45	45	(h)(1) A taxpayer filing a return under this section that would be 5
46	46	required to file the taxpayer's return electronically with the Internal 6
47	47	Revenue Service under 26 C.F.R. § 301.6011 -5, as it existed on February 23, 7
48	48	2023, shall file the return required under this section electronically. 8
49	49	(2) A taxpayer filing a return under this section that is a 9
50	50	member of an affiliated group in a federal consolidated return in which the 10
51	51	federal parent corporation would be required to file electronically with the 11
52	52	Internal Revenue Service under 26 C.F.R. § 301.6011 -5, as it existed on 12
53	53	February 23, 2023, shall file the taxpayer's state return electronically 13
54	54	under this section whether or not the federal parent corporation is an 14
55	55	eligible member of the affiliated group included in the state consolidated 15
56	56	return. 16
57	57	(3) The secretary may waive the electronic filing requirement 17
58	58	under subdivision (h)(1) or subdivision (h)(2) of this section for a taxpayer 18
59	59	only if the secretary determines that filing the return electronically would 19
60	60	cause an undue hardship on the taxpayer. 20
61	61	21
62	62	SECTION 3. EFFECTIVE DATE. Sections 1 and 2 of this act are effective 22
63	63	for tax years beginning on or after January 1, 2025. 23
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