INCOME TAX HISTORY

(June 2024) Following is a brief income tax history after this year’s tax cut.

• (1929) The modern Arkansas income tax is enacted with a top 5.0 % rate.
• (1971) The top rate is increased from 5.0% to 7.0%.
• (2013) The top rate is reduced from 7.0% to 6.9%.
• (2015) Top rate for middle-income Arkansans is cut from 6.9% to 6.0%
• (2017) Top rate for low-income Arkansans is reduced from 4.4% to 3.4%.
• (2019) Top rate for high-income Arkansas is cut from 6.0% to 5.9%. The top middle-class rate is also reduced from 6.0% to 5.9%.
• (2021) The top rate is reduced from 5.9% to 4.9%.
• (Spring 2023) The top rate is reduced from 4.9% to 4.7%.
• (September 2023) The top rate is reduced from 4.7% to 4.4%.
• (June 2024) The top rate is reduced from 4.4% to 3.9%.