Tax & Accounting Blog

NEW 2015 Arkansas Commercial Personal Property Assessment Form

Blog, ONESOURCE Property Tax May 1, 2015

The Arkansas Commercial Personal Property Assessment Form has changed for 2015. Form categories “Furniture and Fixtures” and “Machinery and Equipment” have combined into “Section D: Furniture, Fixtures, Machinery, and Equipment.” The “Miscellaneous” form category has been eliminated. All assets previously assigned to these categories have been remapped in ONESOURCE Property Tax to the appropriate section.

In order to get the updated AR State Form, clear the existing return in ONESOURCE Property Tax and then run the Identify Returns process. The Form Review Questions have also changed; please review and update to ensure accurate information.

The return due date is 5/31, which falls on a Sunday in 2015. Therefore, Per Act 59 of House Bill 1073, approved 2/13/2015, the last day to assess without incurring a penalty shall be the following business day.

The form is certified in ONESOURCE Property Tax and ready for customer use.