Arkansas Tax Task Force Hones its Recommendations

The Arkansas Tax Reform and Relief Task Force is quickly approaching its September deadline for recommendations. Today, the task force revisited a number of its previous proposals to begin to craft its final recommendations. The task force started with the number with more than 20 distinct provisions, many of which were approved for final consideration later this month. If fully implemented, these proposals would improve Arkansas’s tax code, making the state more competitive among its regional peers. A full list of proposals is available on the Arkansas legislature’s website, but a summary of several key provisions is below. Individual Income Tax: The task force considered several proposals on how to reshape Arkansas’s individual income tax. Arkansas is unique among states in that it uses three different rate schedules, each containing a progressive rate structure. The task force ranked “Option A,” as its preferred rate structure. It…

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