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AR SB799
Bill
Status
Failed
4/27/2011
Primary Sponsor
Jonathan Dismang
Click for details
AI Summary
- Increases the first income tax bracket from $2,999 to $3,899 taxed at 1%
- Increases the second bracket from $3,000 to $3,900 taxed at 2.5%
- Expands the third bracket from $3,000 to $4,000 taxed at 3.5%
- Eliminates the six percent tax bracket and consolidates brackets, raising the fourth bracket threshold from $6,000 to $20,900 taxed at 4.5%
- Raises the top bracket threshold from $25,000 to $32,700 taxed at 7%, 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 Six 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