Signed by Governor Asa Hutchinson

Vote Smart's Synopsis:

Vote to pass a bill that reduces the top individual income tax rate from 6.9 percent to 5.9 percent.

Highlights:

• Increases the net income level required for individuals to qualify for certain income tax levels (Sec. 3).

• Reduces the income tax rate for individuals making at least $79,300 in a calendar year from 6.9 percent to 5.9 percent and specifies that this increase will become effective beginning January 1, 2020 (Sec. 5).

• Repeals the authorization for the collection of taxes from sellers who do not have a physical presence in the state (Sec. 4).

Full Bill Text