Signed by Governor Mike Beebe

Vote Smart's Synopsis:

Vote to pass a bill that amends the personal income tax rates and brackets.

Highlights:

• Amends the personal income tax rate for the tax years beginning on and after January 1, 2012 as follows (Sec. 1):
• 1.0 percent on an individual’s first $4,099 of net income;
• 2.5 percent on an individual’s income from $4,100 to $8,199;
• 3.5 percent on an individual’s income from $8,200 to $12,199;
• 4.5 percent on an individual’s income from $12,200 to $20,399;
• 6.0 percent on an individual’s income from $20,400 to $33,999; and
• 7.0 percent on an individual’s income over $34,000. 

• Amends the personal income tax rate for an individual’s first $4,099 of net income from 1.0 percent to 0.9 for all tax years, beginning on or after January 1, 2014 (Sec. 1).

• Amends the personal income tax rate for the tax years beginning on and after January 1, 2015 as follows (Sec. 1):
• 2.4 percent on an individual’s income from $4,100 to $8,199;
• 3.4 percent on an individual’s income from $8,200 to $12,199;
• 4.4 percent on an individual’s income from $12,200 to $20,399;
• 5.9 percent on an individual’s income from $20,400 to $33,999; and
• 6.9 percent on an individual’s income over $34,000. 

Full Bill Text