New possible tax cuts for Arkansas residents!
According to THV11, tax cut legislations could be signed into law by Governor Sarah Huckabee Sanders that will cut taxes for residents in the state.
The Arkansas tax cut bill is heading to the desk of Gov. Sarah Huckabee Sanders after passing through the House and Senate.
The bill includes income tax cuts, marking the third reduction signed by Sanders, who has aimed to phase out the income tax since taking office last year.
The legislation cuts the top individual income tax rate from 4.4% to 3.9% and the top corporate rate from 4.8% to 4.3%. Finance officials estimate the cuts will cost about $483 million in the first year.
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