Taxes

time for taxes

 

Arkansas’ income tax structure is a progressive system that taxes based on total income. Individuals and corporations pay taxes based on total income earned within the state.

 

 

Corp & Pers Income Tax


Single Filer Standard Deduction: $2,000
Married Couple Standard Deduction: $4,000
Personal Exemptions: $23 per flier and/or dependent

 Source: Tax Foundation

 

Sales Tax

Sales tax is 11.25% (Arkansas  6.5%, Crittenden Co. 1.75%, County 1%, Marion 2%)

Unemployment Tax

For new employees, the first $12,000 of wages is taxed at 4%

City of Marion Property Taxes

Residential/Commercial/Industrial Real Property Taxes

Assessment Ratio                   20%
Tax Rate per $100                 $4.73
Effective Tax Rate per $100     $0.94

Personal Property Taxes

Assessment Ratio                   20%
Tax Rate per $100                 $4.73
Effective Tax Rate per $100     $0.94

Franchise Tax

3% of the outstanding capital stock