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Little Rock Arkansas Form 1040A or 1040 Schedule R: What You Should Know

Arkansas 2018-19 Income Tax Rates (Personal Income Tax Rate). 2018-19 federal income tax brackets: 7% on taxable income up to 9,525 for individuals and 13,700 for married couples filing jointly; 15% for taxable income between 9,526-38,700; 25% for taxable income above 38,701; and 28% on income above 37,500. Arkansas' income tax rates are capped at 10% for low/moderate income taxpayers. Arkansas 2018-19 Budget 1.7B (2018-19 Budget) β€” Governor's plan to increase funding for education. Arkansas 2018-19 Spending Plan April 24, 2023 β€” Governor's 2018-19 Budget. The Arkansans want more transparency, more accountability, and more accountability for our teachers. That's what the Arkansans want in their public schools. In this budget, the Arkansans' public schools will get more accountability and a better chance at success for our children. Arkansas Schools Funding Plan 1.5B β€” Governor's 2018-19 Budget, funded by higher taxes on gasoline, cigarettes, alcohol and tobacco companies. Arkansas 2023 Governor's Budget (PDF). 1.4B β€” Arkansas' 2023 Budget Plan β€” Gov. Asa Hutchinson's 2018-19 1.4 billion budget is in line with the state's general fund needs, but is a 3 percent increase over the last two-year period. In fiscal year 2023 the state would balance its budget with a 1.2 billion surplus. Over the last four years, the governor has cut education funding by 1.4 billion and the state has cut state jobs and services by at least 750 million. The Governor's Budget proposes: A modest increase in education funding, about 2% above the current general fund amount. A 60 million funding increase for the Office of the Governor. A 50 million for the General Assembly. β€œThe Legislature's budget committee has already voted to freeze teacher salaries as long as we are in an operating budget.” β€” State Rep. Chuck McDaniel, R-Jonesborough 1.3B β€” A proposal to increase state spending in the next biennium by 600 million, as part of the budget deal hammered out late Thursday that would create about 400 jobs and avert the state going back into financial crisis. The state legislature approved a compromise budget Thursday night that includes 63.

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