Arkansas Division Order
Description
How to fill out Division Order?
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FAQ
In April, Sanders signed into law a bill that cut the state's top individual income tax rate from 4.9% to 4.7% and the state's top corporate income tax rate from 5.3% to 5.1%, retroactive to Jan. 1, 2023.
Military Retired Pay is Exempt from Arkansas State Taxes:Military retired pay is exempt from Arkansas Income taxes. Thrift Savings Plan (TSP) does not withhold taxes for state or local income tax, but it is reported annually on IRS Form 1099-R.
(If you are stationed in Arkansas and your Home of Record is another state, Arkansas does not tax your U.S. active duty military compensation.)" If you are a resident of Arkansas, you are required to file a return and claim all of the income for the resident state.
Some of these benefits include exemption from state income tax on military pay and allowances, exemption from sales tax on vehicle purchases, and a property tax credit for military service members who own homes in Arkansas.
Online filings: In total, online filing approvals for Arkansas LLCs take 3-7 business days. Since you can download your documents as soon as they're approved by the Secretary of State, there is no extra transit time.
Summary of Arkansas Military and Veterans Benefits: Arkansas offers special benefits for Service members, Veterans and their Families including property tax exemptions, state employment preferences, education and tuition assistance, vehicle tags, as well as hunting and fishing license privileges.
States that don't tax military retirement pay include: Alabama. Arizona. Arkansas. Connecticut. Hawaii. Illinois. Indiana. Iowa.
Arkansas standard deduction for tax year 2021 is $4,400 for married filing jointly and $2,200 for all other filers.