Tax Relief

The Arkansas Senate approves a complete tax break

LITTLE ROCK, Ark. – The legislator has approved a comprehensive tax break for companies affected by the pandemic.

House Bill 1361 exempts income that people and businesses have received through numerous disaster relief programs such as the popular Paycheck Protection Program. More than 43,000 Arkansas companies received more than $ 3.3 billion through PPP loans.

Around 19% of these loans had been granted by mid-January.

Income waiver includes benefits from Federal Small Business Administration loans and the Coronavirus Food Assistance Program.

State tax officials estimated HB 1361 Arkansans would save $ 33 million in tax year 2021 and $ 179 million the following year.

The tax relief in HB 1361 also applies retrospectively for the 2019 tax year.

The Senate passed the SB 170 building and sent it to the building to forbid the illegal “doxxing” of a minor. “Doxxing” is a modern day criminal offense that uses electronic media to post personal information about someone or to identify information for malicious purposes. These purposes include intimidation, threats, abuse or harassment.

An example is posting a minor’s address on social media and asking everyone to go to the minor’s house and “get” them.

The Senate also approved SB 301, instructing state authorities to return fines imposed on companies last year for failing to comply with public health emergency guidelines.

Proponents of the law said executive agencies had not received any information from lawmakers about the impact of health policies on businesses. They also claim that fines were primarily levied on small businesses and that large franchises were more lenient.

The Senate Education Committee has further developed SB 107 so that students must complete a computer science course in order to graduate. This applies to students starting ninth grade in 2022.

The bill also stipulates that school districts must hire at least one computer science certified teacher for each of their high schools from 2023-2024.

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