Current Tax Laws

Expert advice on current tax laws from our team in Sherwood, AR

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Arkansas Income Tax Law


The Arkansas income tax law is based on a bracketed system, with different rates applicable to individuals with different salaries.

These tax rates apply to regular tax table. A special tax table is available for low income taxpayers which reduces their tax payments.

AR Income Tax Law Brackets


Tax Bracket (yearly earnings)
$0+
$3,900+
$7,800+
$11,700+
$19,600+
$32,600+
Tax Rate (%) 
1%
2.5%
3.5%
4.5%
6%
7%

Two Convenient Office Locations

Sherwood: (501) 834-6280
Cabot: (501) 605-1319

Arkansas Standard Deduction


The Arkansas standard deduction is $2,000.00 for individuals and $4,000.00 for married couples filing jointly. The standard deduction may be chosen instead of filing an itemized deduction, and taxpayers generally choose whichever deduction allows them to pay the least amount of income tax.

Arkansas Personal Exemptions


Arkansas's personal income tax exemptions include a single exemption of $23.00 and a dependent exemption of $23.00. Dependent exemptions can be claimed for children, relatives, or others who live with and are supported by the taxpayer as described Section 152 of the IRC (Internal Revenue Code).

Federal Income Tax Brackets (2011)


In addition to the Arkansas State Income Tax, Arkansas taxpayers must also pay the Federal Income Tax. Like the AR income tax, the Federal Income Tax is bracket-based and depends on the income and marital status of the filer.
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