Arkansas Approval of senior management executive incentive plan
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How to fill out Approval Of Senior Management Executive Incentive Plan?
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FAQ
Government revenue is the money the state government receives from all the taxes Arkansans pay, voluntary fees Arkansans pay (such as college tuition), and transfers from the federal government.
ArkPlus Income Tax Credit (ACA §15-4-2706(b)) The Consolidated Incentive Act 182 of 2003, as amended, allows the Arkansas Economic Development Commission (AEDC) to provide a ten percent (10%) income tax credit to eligible businesses based on the total investment in a new location or expansion project.
The state income tax rates range up to 5.9%, and the sales tax rate is 6.5%. Arkansas offers tax deductions and credits to reduce your tax liability, including post-secondary tuition deduction, child and dependent care credit, adoption tax credit and political contributions.
In Arkansas in fiscal year 2015, 48.6 percent of total tax revenues came from sales taxes and gross receipts. Income taxes accounted for 34.2 percent of total state tax collections. Education accounted for 29.6 percent of state expenditures in fiscal year 2015, while 25.5 percent went to Medicaid.