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AR SB797
Bill
Status
Failed
4/27/2011
Primary Sponsor
Jonathan Dismang
Click for details
AI Summary
- Eliminates the 2.5% income tax bracket for individuals, trusts, and estates in Arkansas
- Increases the first tax bracket from $2,999 to $7,799 of net income at 1% rate
- Increases the third bracket threshold from $6,000 to $7,800 of net income at 3.5% rate
- Increases the fourth bracket threshold from $10,000 to $13,100 of net income at 4.5% rate
- Increases the top bracket threshold from $25,000 to $32,700 of net income and above at 7% rate; effective for tax years beginning January 1, 2011
Legislative Description
To Amend The Income Tax Rates And Brackets For Individuals, Trusts, And Estates And To Eliminate The Two And One-half Percent Income Tax Bracket.
Last Action
Senate Sine Die adjournment
4/27/2011
Committee Referrals
Revenue & Taxation3/7/2011
Full Bill Text
No bill text available