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2016 What’s New

SPECIAL INFORMATION FOR TAX YEAR 2016 

Additional Information Requested for e-File: The State of Arkansas is requesting additional information this filing season in an effort to combat identity tax fraud and ensure that your hard-earned tax refund goes to you. Providing information from your driver’s license or state-issued identification card will help protect your identity and could help process your return quicker. However, this is only a request. Information from your driver’s license is not required, and your return will be processed without the additional information. The information is being requested solely to help protect your identity and ensure a more-secure refund.

Capital Gains Exemption (Act 1173 of 2015): For tax year 2016, the exemption has been increased:
For gains realized from January 1, 2016 to June 30, 2016, 45% of net capital gains are exempt from tax.
For gains realized from July 1, 2016 to December 31, 2016, 50% of net capital gains are exempt from tax.
For tax year 2014 and forward, 100% of net capital gains in excess of $10,000,000 are exempt from tax.

Tax Brackets Adjusted (Act 22 of 2015): For tax year 2016, the tax brackets have been adjusted due to rate changes based upon income.

Opt Out Box Added: Beginning with tax year 2016, a box has been added to allow you to opt out of receiving a tax booklet for the following year.

ARDD Direct Deposit Form Removed: Beginning with tax year 2016, the ARDD direct deposit form is no longer available for direct deposit requests. The direct deposit information is now included on Forms AR1000S, AR1000F and AR1000NR.