How Much Is The State Income Tax In Arkansas?

Is it cheaper to live in Arkansas?

Compared to the rest of the country, Arkansas has a much lower cost of living.

A dollar in Arkansas supports more real spending than it does in more expensive states.

C2ER’s Cost of Living Index reported that Arkansas’ cost of living is approximately 14% lower than the rest of the nation..

What taxes do you pay in Arkansas?

Income Tax BracketsAll FilersArkansas Taxable IncomeRate$22,200 – $37,1995.00%$37,200 – $79,3006.00%$79,301+6.90%4 more rows•Jan 1, 2020

At what age do you stop paying property taxes in Arkansas?

Age 65 or Disabled Homeowner Property Tax Relief If a person who is age 65 or older or who is disabled purchases a homestead property, the taxable assessed value of the residence can be frozen as of the date of purchase.

What is the best place to live in Arkansas?

The 20 Safest Cities in Arkansas#1. Cave Springs. +53. Population 4,981. … #2. Greenwood. +8. Population 9,454. … #3. Gentry. +23. Population 3,842. … #4. Bella Vista. +21. Population 28,798. … #5. Pottsville. +29. Population 3,246. … #6. Austin. +9. Population 3,508. … #7. Elkins. Population 3,111. Median Income $61,528. … #8. Piggot. +3. Population 3,575.More items…•

How much tax is taken out of my paycheck in Arkansas?

Overview of Arkansas TaxesGross Paycheck$3,146Federal Income14.18%$446State Income5.09%$160Local Income3.50%$110FICA and State Insurance Taxes7.80%$24623 more rows

Are groceries taxed in Arkansas?

Six states (Arkansas, Illinois, Missouri, Tennessee, Utah, and Virginia) tax groceries at lower rates than other goods. (See Figure 3.) Most recently, Tennessee cut its sales tax on food to 4 percent from 5 percent in 2017; Arkansas cut its rate to 0.125 percent from 1.5 percent in 2019.

Is Arkansas a tax friendly state for retirees?

Arkansas is a relatively tax-friendly state for retirees. Social Security is totally exempt from the state’s income tax. … While the state sales taxes are some of the highest in the country, that is at least partly offset by property taxes that rank among the lowest in the U.S.

Are taxes high in Arkansas?

By Caleb Taylor. Arkansas is tied with Tennessee for having the highest average state and local sales tax rate at 9.47 percent, according to a midyear 2019 state and local sales tax report by the Tax Foundation. … almost all of them, 83 percent, take place during some time other than the general or primary election.

What is Arkansas state and local tax rate?

The state sales tax rate in Arkansas is 6.500%. With local taxes, the total sales tax rate is between 6.500% and 11.625%. Arkansas has recent rate changes (Wed Jul 01 2020).

Why are taxes so high in Arkansas?

Taxes and spending: Arkansas leads country in local sales tax rates while state starves services to cater to rich and special interests. … Among those deprived of general revenue produced by that tax — in addition to schools, public safety and health care — are cities and counties, which receive state “turnback” money.

Is Arkansas a good place to live?

Like most places, Arkansas has places that are more desirable than others. … Cities like Cammack Village, Hot Springs Village, Tontitown, Bentonville, Maumelle, Greenbrier, Johnson, White Hall, Centerton, and Conway all rank among Arkansas’ top 10 most livable and desirable cities according to AreaVibes.com.

How much are state taxes in Arkansas?

The Arkansas (AR) state sales tax rate is currently 6.5%. Depending on local municipalities, the total tax rate can be as high as 11.50%. Sales tax is a tax paid to a governing body (state or local) for the sale of certain goods and services.