Form Instructions 709 AR 2024-2025

Form Instructions 709 AR: What You Should Know

Gifts and Generation-Skipping Transfer Tax, 2018; (Cumulative List of Changes in Estate, Gift, and Generation-Skipping Transfer Tax Act) 1 Nov 2025 — Form 709 must be filed with an amended Arkansas income tax return for the calendar year ending in October. Filing Procedures and Requirements | Internal Revenue Service (Updated Jan 2018) If you file federal return with an Arkansas filing address, you must: • File Form 709 by 3 p.m. CST no later than 3 April after the year in which you receive any of the gifts; • Keep a copy of Form 709 attached or on your personal records at all times that you are required to produce a copy to the Arkansas Department of Revenue (IDOL) for state tax purposes; and • If you do not file a Form 709 and do receive any of the gifts within 3 October of the year of receiving the gift, file an amended tax return no later than 9 June of the following year, or your credit or refund will be denied. The amended return must include all the required information for the tax years that the gift is taxable and the amount of the tax. (Also see Federal Return Filed with a State of Arkansas Filing Address) (Updated Feb 2014) Arkansas Code — Property Tax — Arkansas 26-61-201 is the Arkansas statute(s) that establishes a state tax on certain types of property and that establishes certain property qualifications. The property taxes statute also defines a property and identifies what types of property are subject to the state property tax. For purposes of the Arkansas property tax, this title covers: 1. Farm or ranch lands. (See the definition of Farm property on page 32.) 2. Farm and ranch buildings. (See the definition of Farm building on page 37.) 3. Ranches of timber or oil or natural minerals. (See page 41.) 4. Buildings used for living, cooking, lodging, and similar purposes. (Page 42.) The tax on some of these types of property includes certain special assessment rates that may be levied by the IDOL. These special assessments are set at 10 per year on all property taxed to the value of 500,000 per year or less, but not limited to. In addition, the special assessments may be levied on buildings not used by the owner for business or residences, which is in addition to any assessments levied in connection with other types of property.

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