The bill amends the Arkansas Corporate Franchise Tax Act of 1979 by reducing the minimum franchise tax for certain corporations. Specifically, it changes the minimum annual tax from $150 to $100, thereby providing financial relief to qualifying corporations.

Additionally, the bill includes a provision that specifies the effective date for this change, stating that the new minimum tax will apply to tax years beginning on or after January 1, 2026. This allows corporations to prepare for the adjustment in their tax obligations.

Statutes affected:
SB 256: 26-54-104(a)