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Arkansas
By the Numbers

Arkansas Below is a snapshot of key features of Arkansas's tax system. (Scroll Down)
State & Local Revenue (FY10)
  • General Revenue, Own-Source (GROS): $13.9 billion
  • General Revenue as a Share of Income: 15.0%
  • Tax Revenue: $9.5 billion
  • Tax Revenue as Share of income: 10.2%
  • Personal Income Tax (Share of Tax Revenue): 22.0% (26 out of 51)
  • Corporate Income Tax (Share of Tax Revenue): 4.1 % ( 9 out of 51)
  • Sales & Excise Tax (Share of Tax Revenue): 50.5 % ( 5 out of 51)
  • Property Tax (Share of Tax Revenue): 18.3 % ( 51 out of 51)
  • Other Taxes (Share of Tax Revenue): 3.6 % (37 out of 51)
Personal Income Tax Features (2012)
  • Range of Tax Rates: 1.0% - 7.0%
  • Standard Deduction: $2,000 ($4,000 for Married Couples)
  • Personal Exemption: Credit=$23
  • Dependent Exemption: Credit=$23
  • Earned Income Tax Credit (EITC): None
  • Notable capital gains preference
Corporate Income Tax Features (2012)
  • Range of Tax Rates: 1.00% - 6.50%
  • Income Level at Which Top Rate Applies: $100,000
  • Combined Reporting: No
  • Apportionment Factor (Payroll): 25%
  • Apportionment Factor (Property): 25%
  • Apportionment Factor (Sales): 50%
Sales Tax Features (2012)
  • State Sales Tax Rate: 6.50%
  • Average Local Sales Tax Rate: 2.40%
  • Average Combined State & Local Sales Tax Rate: 8.90%
  • State Sales Tax Treatment of Groceries: 1.5%
  • Local Sales Tax Treatment of Groceries: Taxed
  • Number of Services Taxed: 72 out of 168 surveyed (2007)
  • Streamlined Sales Tax Membership: Full
  • "Amazon law" in effect
  • Vendor Compensation available with high ceiling
  • Sales tax holiday offered in 2013
Property Tax Features (2012)
  • Provides a homestead credit.
Other Tax & Revenue Features (2012)
  • Gasoline Tax Rate (per gallon): $0.218
  • Diesel Tax Rate (per gallon): $0.228
  • Cigarette Tax Rate (per pack): $1.15
  • Estate or Inheritance Tax: No
  • Net Lottery Sales Per Capita: $124 (2010)
Tax Policy Oversight
  • Tax Expenditure Report: Yes, but excludes at least one major tax
  • Tax Incidence Analysis Capability: None

Last Updated October 4, 2012

Sources & Glossary