Little Rock, Arkansas – Governor Sarah Huckabee Sanders has announced an executive order to provide additional tax filing and payment relief to residents and businesses in Arkansas affected by severe storms, flooding, and tornadoes that began on May 24, 2024. The severe weather caused significant damage and disruption, prompting this crucial response to alleviate the financial burdens on the impacted communities.
Background of the Executive Order
On May 26, 2024, Governor Sanders declared a regional emergency through Executive Order 24-07 due to the severe weather conditions. This declaration allowed the state to mobilize resources and provide immediate relief. Subsequently, on May 30, 2024, Executive Order 24-09 extended tax payment deadlines for citizens in the affected counties. Recognizing the ongoing hardships, Governor Sanders has now issued Executive Order 24-11 to further extend these deadlines and offer additional relief.
Details of the Tax Relief
The new executive order mandates the Secretary of the Department of Finance and Administration to extend various tax deadlines for residents and businesses in Baxter, Benton, Boone, Carroll, Fulton, Grant, Greene, Madison, Marion, Nevada, Randolph, Sevier, and Sharp counties. The key provisions are as follows:
- Extended Tax Filing and Payment Dates: The 2023 income tax filing date and payment date, along with the 2023 pass-through entity tax filing and payment dates, are extended to November 1, 2024. This extension applies to returns originally due between May 24, 2024, and October 31, 2024.
- Included Tax Categories: The extension covers returns for individuals, Subchapter S Corporations, Subchapter C Corporations, pass-through entities, fiduciaries and estates, partnerships, and composite returns.
- Quarterly Estimated Income Tax Payments: The deadline for making quarterly estimated income tax payments due between May 24, 2024, and October 31, 2024, is also extended to November 1, 2024.
- Waiver of Written Request Requirement: The requirement for a written request for an extension to file an individual income tax return is waived through November 1, 2024. This waiver applies to citizens and businesses in the affected counties.
- Extension Beyond 180 Days: The limit of a 180-day extension for filing an individual income tax return is waived through November 1, 2024.
- Promulgation of Rules Waived: The requirement to promulgate rules to waive the written request for an extension is waived through November 1, 2024.
Commitment to Recovery
Governor Sanders emphasized the importance of this relief in aiding the recovery process for affected communities. “By extending these deadlines, we are helping Arkansans who are struggling to rebuild and recover from the severe weather. This extension provides much-needed time for our citizens and businesses to get back on their feet,” she said.
The relief measures aim to reduce the financial burden on residents and businesses, allowing them to focus on recovery efforts without the added stress of immediate tax obligations. This initiative underscores the state’s commitment to supporting its communities in times of crisis.
For more information on the executive order and the relief measures, residents and businesses are encouraged to visit the official website of the Governor of Arkansas.
