individual income tax
Arkansas payroll withholding tables won’t be adjusted for special session tax credit
Arkansas tax officials won’t tweak payroll withholding guidelines again this year following another round of income tax cuts enacted by the General Assembly in last month’s special session. That means taxpayers won’t see relief from the $150 tax credit on their paychecks; instead, they’ll see larger refunds or lower tax liability when they claim the […]
Arkansas governor calls special session to alter FOIA, cut taxes
This story was updated at 5:30 p.m. on Friday, Sept. 8, 2023, to include comments from the Arkansas Press Association. Arkansas Gov. Sarah Huckabee Sanders is asking the state Legislature to convene next week to cut income taxes, ban vaccine mandates for state employees and significantly curtail what state government records are available to the […]
Arkansas General Assembly cuts top individual and corporate income tax rates
The Arkansas House of Representatives sent more than $100 million in cuts to the top individual and corporate income tax rates to Gov. Sarah Huckabee Sanders’ desk Wednesday. The legislation reduces the top individual income tax rate from 4.9% to 4.7%. It decreases the top corporate income tax rate by two percentage points to 5.1%. […]
Arkansas House advances another tax cut, phasing out the ‘throwback rule’
UPDATE: The full House of Representatives voted unanimously in favor of House Bill 1045 on Tuesday at about 7:40 p.m. State representatives on Tuesday voted to phase out the state’s so-called “throwback rule.” The rule is an obscure tax policy that requires multi-state corporations based in Arkansas to report income from other states where revenue […]
SESSION SNAPSHOT: With a week to go, the Arkansas Legislature kicks it into high gear
It happens every legislative session. As adjournment nears, Arkansas lawmakers cram their biggest priorities through before it’s too late. House and Senate floor sessions go longer, and committees meet well into the night. Trying to keep up with all the legislation advancing, failing and stalling felt like drinking through a fire hose at times this […]
Arkansas income tax rate changes explained
The Arkansas General Assembly last week convened in special session primarily to enact tax relief. The law, which easily passed the House and Senate, was billed by proponents as relief for taxpayers in a time of high inflation. Several also referenced the $1.6 billion surplus the state ended with in fiscal 2022. Opponents argued that […]