Arkansas SB1 reduces income tax rates for individuals, trusts, estates, and corporations.
Arkansas SB1 amends the state's income tax code to reduce rates for individuals, trusts, estates, and corporations. For tax years starting in 2026, individuals, trusts, and estates will pay 1% on the first $3,000 of income, 2% on the next $3,000, 3% on the next $5,000, and 4.1% on income over $11,000. For tax years starting in 2027, domestic and foreign corporations will pay 1% on the first $3,000 of income, with graduated rates up to 3.7% on income up to $94,700. Higher income brackets have specific adjustments.
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- Core Provisions
- Implementation
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- Legal Framework
- Critical Issues
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