AEDC director: Income tax dip below four percent ‘sending a message’

by Roby Brock (roby@talkbusiness.net)

Arkansas Economic Development Commission Executive Director Clint O’Neal says the push to lower Arkansas’ top personal income tax rate below four percent as well as drop the corporate income tax rate will open the door for more business to come to the state.

Gov. Sarah Sanders is calling the Arkansas General Assembly into session Monday (June 17) to cut personal income tax rates from 4.4% to 3.9%, corporate tax rates from 4.8% to 4.3%, and to expand the homestead tax credit by another $75 to $500 for homeowners.

Appearing on this week’s edition of Talk Business & Politics, O’Neal said the tax cuts expected to be enacted this week in a legislative special session is psychological and tangible.

AEDC director: Income tax dip below four percent ‘sending a message’