Did You Know?
Distribution transformers and polymer components produced in Pine Bluff by Central Moloney, Inc., are sold in all 50 states, Canada and throughout the world.
Personal Income Tax
Resident and nonresident individuals, estates, and trusts deriving income from within the state are subject to a tax on their net income at the following rates:
| Net Taxable Income | Rate | Net Taxable Income | Rate |
| First $2,999 |
1.0% |
Next $6,000 |
4.5% |
| Next $3,000 |
2.5% |
Next $10,000 |
6.0% |
| Next $3,000 |
3.5% |
$25,000 & over |
7.0% |
To arrive at net taxable income, the taxpayer may elect to either itemize deductions or to use the standard deduction of $2,000 per taxpayer. (Married couples may deduct $2,000 per spouse.) Federal income tax is not deductible from income subject to Arkansas' personal income tax.
A credit is allowed resident individuals for the amount of income tax paid to any other state not to exceed what the tax would be on out-of-state income if added to the Arkansas income and calculated at Arkansas income tax rates.