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AR HB1387
Bill
Status
Failed
4/27/2011
Primary Sponsor
Charles Collins
Click for details
AI Summary
- Reduces the top marginal income tax rate from 7% to 6.8% for individuals, trusts, and estates with net income of $25,000 or above
- Maintains existing tax bracket structure for lower income levels (1% on first $2,999; 2.5% on next $3,000; 3.5% on next $3,000; 4.5% on next $6,000; 6% on next $10,000)
- Effective for tax years beginning on or after January 1, 2011
Legislative Description
To Reduce The Income Tax Rate For Individuals, Trusts, And Estates.
Last Action
House Died in House Committee at Sine Die adjournment.
4/27/2011
Committee Referrals
Revenue and Taxation2/9/2011
Full Bill Text
No bill text available