What is the Arkansas state income tax rate for 2020?
Personal Income Tax Rates (Effective January 1, 2020)
| Income greater than $79,300 | |
|---|---|
| $0-$4,000 | 2.0% |
| $4,001 – $8,000 | 4.0% |
| $8,001 – $79,300 | 5.9% |
| $79,301 and above | 6.6% |
What is the standard deduction for 2020 in Arkansas?
Arkansas Standard Deductions & Personal Exemption Amounts
| Standard Deduction (Single) | Standard Deduction (MFJ) | Personal Exemption |
|---|---|---|
| $2,200.00 | $4,400.00 | $26.00 * |
Is Arkansas a high tax state?
According to a midyear report from the Tax Foundation, a Washington tax-policy group, Arkansas’ average combined state and local sales-tax rate is 9.48%, making it the third-highest statewide average in the country, behind Louisiana at 9.55% and Tennessee at 9.547%.
What income is taxable in Arkansas?
The middle income tax table is set up for 2021 so those Arkansans pay . 75% on income up to $4,699, 2.5% on income between $4,700 and $9,199, 3.5% on income between $9,200 and $13,899, 4.5% on income between $13,900 and $22,899, 5% on income between $22,900 and $38,499 and 5.9% on income between $38,500 and $82,000.
How much money do you have to make to file taxes in Arkansas?
According to Arkansas Individual Income Tax Booklet, whether or not you have to file an Arkansas tax return depends on your filing status and gross income. Full Year Residents: Single, $12,493. Head of Household with 1 or no dependents, $17,762.
What city has the highest taxes in Arkansas?
city of Gould
Combined with the state sales tax, the highest sales tax rate in Arkansas is 11.5% in the city of Gould.
What are Arkansas state income tax brackets?
Arkansas state income tax rate table for the 2018 – 2019 filing season has seven income tax brackets with AR tax rates of 0.9%, 2.4%, 3.4%, 4.4%, 5%, 6% and 6.9% for Single, Married Filing Jointly, Married Filing Separately, and Head of Household statuses.
What is the personal income tax in Arkansas?
Arkansas state income tax rate table for the 2020 – 2021 filing season has four income tax brackets with AR tax rates of 2%, 4%, 5.9% and 6.6% for Single, Married Filing Jointly, Married Filing Separately, and Head of Household statuses.
What is the state tax rate in Arkansas?
The Arkansas (AR) state sales tax rate is currently 6.5%. Depending on local municipalities, the total tax rate can be as high as 0%.
Does Arkansas have state taxes?
Arkansas does not allow local jurisdictions like cities or counties to collect a local sales tax. The Arkansas state sales tax of 6.5% is applicable statewide. You can view the sales tax rates for various cities in Arkansas here.