I think we are in for a lot of fireworks as companies, groups and organizations gather at the capitol in Feb of 2012 for the annual fiscal session. Chairman of the House Revenue and Tax committee (R) Davy Carter is proposing a complete review of sales and use tax exemptions.  Representative Carter has indicated his goal is for the legislature to take a fresh look to see whether these exemptions continue to produce the stated benefits and generally whether they still make sense. He has also said he would like to see the legislature issue a "show cause" notice to supporters of these exemptions and require compelling evidence for their continuance. He is hoping that there will be justifiable changes to these exemptions and exclusions that could lead to a revenue neutral restructuring of the personal income tax brackets for Arkansas taxpayers. A push for any real changes would not occur until the regular legislative session of 2013.  This could get real interesting! A list of exemptions are posted on my web site. Click Here 

If you or your business currently receive exemptions in Arkansas we can help keep you apprised of the situation and offer solutions if the need arises. 

You can review the article on this issue here at Talkbusiness.net