TO CREATE THE REMOTE AND MOBILE WORK MODERNIZATION AND COMPETITIVENESS ACT; AND TO PROVIDE INCOME TAX AND WITHHOLDING EXEMPTIONS RELATED TO CERTAIN REMOTE AND MOBILE EMPLOYEES AND NONRESIDENTS.

Fiscal Impact Statement Bill: HB1116 Bill Subtitle: TO CREATE THE REMOTE AND MOBILE WORK MODERNIZATION AND COMPETITIVENESS ACT; AND TO PROVIDE INCOME TAX AND WITHHOLDING EXEMPTIONS RELATED TO CERTAIN REMOTE AND MOBILE EMPLOYEES AND NONRESIDENTS. --------------------------------------------------------------------------------------------------------------------------------------- Sponsors: Rep. Ray and Sen. Dismang Basic Change: HB1116 creates the "Remote and Mobile Work Modernization and Competitiveness Act" which provides an income tax exemption for a taxpayer who earns $2,500 or less from work performed within the state during a tax year if the taxpayer works in more than one state during the tax year. HB1116 authorizes the Department of Finance and Administration (DFA) to enter into a reciprocal agreement with another state to exempt that state's residents from Arkansas income tax if a similar exemption is provided by that state to Arkansas residents. HB1116 provides an exemption from withholding requirements for an employer who has an employee who: • Performs employment duties in the state for 15 days or fewer during the year; • Performs employment duties for the employer in mo