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STATE & LOCAL TAX

As the leading tax law firm in Arkansas, we have an excellent reputation and working relationship with the Revenue Division of the Arkansas Department of Finance and Administration. Whether your concerns involve personal or business taxation, you benefit from the fact that lawyers from our firm have helped shape state tax law by working directly with administrative and legislative taxing officials. A good example is our efforts in restructuring the state manufacturing tax exemption on tangible personal property used directly in manufacturing so that it achieves the necessary public policy objectives while supporting the competitiveness of some of the state’s largest business entities. We also have other unique strengths that reflect our knowledge of the state tax code, such as unquestioned leadership in the issuance of the Internal Revenue Board.

At the local level we excel at helping you with tax issues that particularly relate to real estate transactions, such as reducing tax burdens through the use of like-kind exchanges. When necessary, we can challenge local tax assessments on your behalf, particularly if there is a need to challenge a contingency ad valorem property tax assessment. Other state or local tax controversies that we can handle for you include sales and use tax audits and disputes.

Our firm has an authoritative voice that carries weight with the legislature and administrative taxing authorities. We can effectively handle appeals of property taxes, sales and use, and income tax matters from planning to the audit stage through the Arkansas Supreme Court. Our attorneys also have experience finding and securing state economic incentives for companies looking to move to Arkansas.

Focused on Clients

  • Corporations
  • Tax passthroughs
  • Nonprofit organizations
  • Individuals

Focused on Services

 Arkansas Sales and Use Tax - Our attorneys help shape state tax law by working directly with the administrative officials and the legislature. We recently worked with others in obtaining legislative changes to the burden of proof in sales tax exemption matters. 

Arkansas Ad Valorem Property Tax – To help taxpayers to control costs, we use blend of legal skills and technical valuation expertise to achieve equitable property tax assessments.  

Economic Incentives – When companies look to Arkansas to relocate, they also engage the firm to help them find and secure federal and state economic incentives. Our attorneys work to make sure companies are compliant and that the certification and approval procedures are met. In Arkansas, this involves working with agencies such as the Arkansas Economic Development Commission, Department of Workforce Education, Arkansas Soil and Water Commission, Department of Parks and Tourism and Department of Environmental Quality.

Real Estate Transactions – Our real estate work covers a broad range of transactions, regulatory advice, and litigation — from routine purchase agreements to complicated and sophisticated commercial, corporate, tax and environmental work. We provide clients with practical advice and creative solutions, whether they are buying, selling, leasing or operating real property oil and gas interests in Arkansas or in multi-state transactions. We counsel clients on debt and equity financing, non-recourse financing, project financing, partnerships and limited liability companies, joint ventures and other investment vehicles, as well as on land use, brokerage and management agreements. 

Focused on our Team

With more than 30 attorneys and an impressive total of more than 700 years of experience, our tax attorneys focus on particular areas of the law to best serve our clients. Twenty-five of the firm’s tax attorneys have earned their Master of Laws in Taxation and many are inactive certified public accountants. Six attorneys have been selected as Fellows in the prestigious American College of Trust & Estate Counsel and the firm has the only two Arkansans who are Fellows of the American College of Tax Counsel. Our tax department also includes the only attorney in the state, and one of only 65 in the country, invited to be a member of the National Association of Property Tax Attorneys.

Friday, Eldredge & Clark holds seminars each year devoted to educating CPAs on the most recent updates in tax law. Additionally, many of the firm’s attorneys participate in training seminars through the Arkansas State Chamber of Commerce, the Arkansas Society of Certified Public Accounts and other industry-related events.

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