The Arkansas Appeals Workplace states that the state income tax law doesn’t permit the depreciation allowance claimed by residents

Daily Tax Report: State

March 12, 2021, 5:00 a.m.

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The Arkansas Office of Hearings and Appeals (OHA) confirmed the Department of Finance and Administration's (DFA) individual income tax assessment on March 11, following agreed taxpayer net tax adjustments. Arkansas taxpayers filed their tax returns and requested a write-off. The EDA found that taxpayers' tax returns included income from the partnership of two companies, but did not reconcile the income from Company 2 with Arkansas allowances. The FDFA issued a notice on the setting of additional taxes. The OHA found: 1) Taxpayers were the only members of the companies and had to report their distributable income or losses. 2) Arkansas taxpayers have earned taxable income; 3) …

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