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AR SB800
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 at 1% rate
- Increases the second bracket from $3,000 to $3,900 at 2.5% rate
- Increases the third bracket from $3,000 to $4,000 at 3.5% rate
- Increases the fourth bracket from $6,000 to $7,800 at 4.5% rate
- Eliminates the 7% tax bracket for income of $25,000 and above, replacing it with a 6% rate on income of $19,600 and above
- Takes effect for tax years beginning on or after January 1, 2011
Legislative Description
To Amend The Income Tax Rates And Brackets For Individuals, Trusts, And Estates And To Eliminate The Seven 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