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 establishes that this change will take effect for tax years beginning on or after January 1, 2026. This timeline allows corporations to prepare for the new tax structure while ensuring that the state can adjust its revenue expectations accordingly.

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