Arkansas Swiftly Sticks With Corporate, Individual Tax Cut Agenda

Arkansas Gov. Sarah Huckabee Sanders is likely to put her signature next week on an income tax cut bill that she and legislative leaders agreed on just days ago, a spokesperson said Thursday.

Under SB 549, the top corporate income tax rate drops to 5.1% from 5.3% and the top individual rate falls to 4.7% from 4.9%. The reductions are effective for this tax year.

The Republican governor announced the plan on March 30 and said it would impact 1.1 million residents and cut personal income taxes by $100 million and corporate income taxes by $24 million. ...