Arkansas Income Tax Rate 2023 - 2024
Arkansas state income tax rate table for the 2023 - 2024 filing season has three income tax brackets with AR tax rates of 2%, 4%, 4.7% for Single, Married Filing Jointly, Married Filing Separately, and Head of Household statuses. Arkansas income tax rate and tax brackets shown in the table below are based on income earned between January 1, 2023 through December 31, 2023.
The Arkansas tax rate has been decreasing each year since 2016, and, the number of brackets have been decreasing as well. Outlook for the 2024 Arkansas income tax rate is for continued reduction in both the rates and the number of brackets. Effective January 1, 2024 the top marginal tax rate is expected to be reduced further from 4.7% to 4.4%.
| Income Tax Bracket | Tax Rate 2023 | ||
|---|---|---|---|
| $0 | to | $4,400 | 2% |
| $4,401 | to | $8,800 | 4% |
| $8,801 | to | ∞ | 4.7% |
| Income Tax Bracket | Tax Rate 2023 | ||
|---|---|---|---|
| $0 | to | $4,400 | 2% |
| $4,401 | to | $8,800 | 4% |
| $8,801 | to | ∞ | 4.7% |
| Income Tax Bracket | Tax Rate 2023 | ||
|---|---|---|---|
| $0 | to | $4,400 | 2% |
| $4,401 | to | $8,800 | 4% |
| $8,801 | to | ∞ | 4.7% |
| Income Tax Bracket | Tax Rate 2023 | ||
|---|---|---|---|
| $0 | to | $4,400 | 2% |
| $4,401 | to | $8,800 | 4% |
| $8,801 | to | ∞ | 4.7% |
Source: 2023 Income Tax Brackets, published by the Arkansas Department of Finance and Administration.
Please reference the Arkansas tax forms and instructions booklet published by the Arkansas Department of Finance and Administration to determine if you owe state income tax or are due a state income tax refund. Arkansas income tax forms are generally published at the end of each calendar year, which will include any last minute 2023 - 2024 legislative changes to the AR tax rate or tax brackets. The Arkansas income tax rate tables and tax brackets shown on this web page are for illustration purposes only.
Arkansas Tax Brackets 2023 - 2024
Looking at the tax rate and tax brackets shown in the tables above for Arkansas, we can see that Arkansas collects individual income taxes similarly for Single versus Married filing statuses, for example. We can also see the progressive nature of Arkansas state income tax rates from the lowest AR tax rate bracket of 2% to the highest AR tax rate bracket of 4.7%.
For single taxpayers living and working in the state of Arkansas:
- Tax rate of 2% on the first $4,400 of taxable income.
- Tax rate of 4% on taxable income between $4,401 and $8,800.
- Tax rate of 4.7% on taxable income over $8,800.
For married taxpayers living and working in the state of Arkansas:
- Tax rate of 2% on the first $4,400 of taxable income.
- Tax rate of 4% on taxable income between $4,401 and $8,800.
- Tax rate of 4.7% on taxable income over $8,800.
For the Single, Married Filing Jointly, Married Filing Separately, and Head of Household filing statuses, the AR tax rates remain the same. Notice also that the Arkansas tax brackets for Single, Married Filing Jointly, Head of Household, and Married Filing Separately filing statuses are the same in the state of Arkansas.
Last updated: November 20, 2023
References:
- Individuals, trusts, and estates ยง 26-51-201. Arkansas Code, Title 26 Taxation, 26-51-201. Retrieved November 20, 2023.
- Arkansas looking at its third state income tax cut in 13 months. Wickline, Michael. Arkansas Democrat-Gazette, September 10, 2023. Retrieved November 20, 2023.
- Sanders, Arkansas Legislature enact income tax cuts on final day of special session. Field, Hunter. Arkansas Advocate, September 14, 2023. Retrieved November 20, 2023.
- Income Tax Rate for Individuals with a Net Income Greater Than $84,500. Personal Income Tax, Arkansas Economic Development Commission. Retrieved November 20, 2023.
- Arkansas issues revised 2023 withholding formula and tables. Payroll News Flash, Ernst & Young, June 15, 2023. Retrieved November 20, 2023.