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For large businesses, the 0.55% Business Enterprise Tax is essentially an income tax. The state also has a 7.5% (2024) Business Profits Tax. [16] South Dakota – no individual income tax but has a state franchise income tax on financial institutions. [17] Tennessee – has no individual income tax.
Most states have a minimum income or franchise tax. The above rates generally apply to entities treated as corporations other than S Corporations and financial institutions, which may be subject to different rates of tax. Tax rates are before credits and reductions for corporations operating in certain parts of the state.
The Building & Grounds Division maintains the Arkansas State Capitol and its surrounding grounds and gardens. The Business & Commercial Services Division is responsible for filing liens pursuant to the Uniform Commercial Code, registering business entities and trademarks, collecting the state franchise tax, and licensing notaries public.
Property tax is assessed by the Lincoln County Assessor annually based upon the fair market value of the property and determining which tax rate, commonly called a millage in Arkansas, will apply. The rate depends upon the property's location with respect to city limits, school district, and special tax increment financing (TIF) districts.
May 19 – 27: Tornado outbreak sequence of May 19–27, 2024 [4] June 21 – 2024 Fordyce shooting: Four people are killed and ten others are wounded in a shooting at the Mad Butcher supermarket in Fordyce. The suspect, Travis Eugene Posey, is shot and arrested by Arkansas State Police. [5]
Seth P. Waxman during oral arguments at Franchise Tax Board of ... Coat of arms of Arkansas at Historical coats of ... This page was last edited on 9 July 2024, ...
The General Assembly of Arkansas is authorized by the Arkansas Constitution, which is the state's fifth constitution. The first constitution was ratified on January 30, 1836, and the current constitution was adopted in 1874. [2] The constitution has also been amended throughout the state's history since 1874.
Until June 30, 2011, the Federal Unemployment Tax Act imposed a tax of 6.2%, which was composed of a permanent rate of 6.0% and a temporary rate of 0.2%, which was passed by Congress in 1976. The temporary rate was extended many times, but it expired on June 30, 2011.