Arkansas Cuts Individual and Corporate Income Tax Rates

On 10 April 2023, the Governor of the U.S. State of Arkansas signed Senate Bill (SB) 549 into law, providing both individual and corporate income tax cuts. This includes a reduction in the top individual income tax rate from 4.9% to 4.7% and a reduction in the top corporate income tax rate from 5.3% to 5.1%. The tax cuts are effective for tax years beginning on or after 1 January 2023.
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