Page 2 - Les Eaves News Today

Arkansas lawmakers on Thursday once again slashed the state’s top income tax rate after debate over whether the relief should more precisely target the state’s lower- and middle-income citizens.

The Arkansas House Revenue and Taxation Committee on Wednesday advanced identical bills that would trim the states top individual and corporate income tax rates and create a temporary income tax credit for low-income and middle-income taxpayers.

The Arkansas Senate on Tuesday handily approved a bill that would cut the states top individual and corporate income tax rates and create a temporary income tax credit for certain taxpayers.

The two bills would trim the state’s top individual income tax rate from 4.7% to 4.4% and the state’s top corporate income tax rate from 5.1% to 4.8%, effective Jan. 1, 2024.

If passed, the proposal would mark the second round of tax cuts under Gov. Sarah Huckabee Sanders since she took office in January.

Gov. Sarah Sanders called a special session that kicked off on Monday. Here's what it means for income tax in Arkansas.

For the third session in the past 13 months, the Arkansas General Assembly will consider cutting the states income taxes.

Arkansas lawmakers have approved a plan by Republican Gov. Sarah Huckabee Sanders and legislative leaders to cut individual and corporate income taxes by $124 million a year.

Arkansas lawmakers on Wednesday approved a plan by Republican Gov. Sarah Huckabee Sanders and legislative leaders to cut individual and corporate income taxes by $124 million a year.

The Arkansas House of Representatives on Wednesday voted to send Gov. Sarah Huckabee Sanders a bill that would cut the states top individual income tax rate from 4.9% to 4.7% and the states top corporate income tax rate from 5.3% to 5.1%, retroactive to Jan. 1, 2023.