LITTLE ROCK, Ark. (AP) _ Arkansas officials are proposing income tax changes
estimated to reduce state revenue by nearly $192 million a year.
The Arkansas Democrat-Gazette reports the state Department of Finance and Administration unveiled the proposed tax relief and reform package Wednesday to the Legislative Tax Reform and Relief Task Force.
Under the proposal, Arkansas’ three individual income tax tables would become a
single table to simplify the rates and tax brackets. The top rate would also
gradually be cut from 6.9 percent to 5.9 percent, for a total reduced revenue of
$191.7 million a year.
Revenue Commissioner Paul Gehring says the package would provide relief to
middle-income and upper-income taxpayers.
Gov. Asa Hutchinson expressed support for the proposal, which he expects to be
presented as a bill in January.
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