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The Arkansas House of Representatives on Wednesday voted to send Gov. Sarah Huckabee Sanders a bill that would cut the state's top individual income tax rate from 4.9% to 4.7% and the state's top corporate income tax rate from 5.3% to 5.1%, retroactive to Jan. 1, 2023.
The Arkansas House of Representatives on Wednesday voted to send Gov. Sarah Huckabee Sanders a bill that would cut the state's top individual income tax rate from 4.9% to 4.7% and the state's top corporate income tax rate from 5.3% to 5.1%, retroactive to Jan. 1, 2023.
With just a few days left until the 2023 General Legislative Session is scheduled to adjourn, legislators advanced bills that are key to the governor's agenda.
A plan by Gov. Sarah Huckabee Sanders and other legislative leaders to cut Arkansas income taxes by $124 million a year was approved by state lawmakers.