State Tax Boards Approve Bills To Cut Income Taxes, Offer Incentives To Steel Mills In Northeast Arkansas

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The Arkansas House and Senate tax commissions on Tuesday introduced identical bills that would reduce the state’s highest personal and corporate tax rates, consolidate low and low tax tables, and medium incomes and would create a non-refundable tax credit for low incomes.

Without any audible dissenting votes, the House and Senate Revenue and Taxation Committees recommended House and Senate approval of Bill 1001 by Rep. Ken Maddox, R-Mena, and of the bill. 1 of the Senate by Senator Jonathan Dismang, R-Searcy, respectively.

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