ARKANSAS HAS SECOND HIGHEST CORPORATE INCOME TAX RATE IN REGION
"State corporate income taxes represent a type of "double taxation", wherein corporate profits are taxed at both the corporate level and the personal income tax level, when dividends are paid." Murphy Commission, Policy Foundation project, 19981
(February 2018) Arkansas is among states with the second highest top corporate income tax rate in the 12-state southeast region, according to 2017 data2 from the Federation of State Tax Administrators.
West Virginia 6.5%
South Carolina 5.0%
North Carolina 3.0%
The recently-enacted Tax Cuts and Jobs Act reduced the effective federal corporate tax rate from 35 to 21 percent.
The Federation of State Tax Administrators serves the principal tax collection agencies of the 50 states, Washington, D.C., Philadelphia, and New York.4. The Department of Finance and Administration serves that role in Arkansas.
-- Greg Kaza
1 Improving Productivity by Reducing Taxes and Taxes and Savings in Arkansas
3 Florida has a $50,000 exemption.
4 https://www.taxadmin.org/about-fta The organization was founded in 1937. The state Department of Finance and Administration serves that role in Arkansas.