Republican Gov. Sarah Huckabee Sanders signed into law a measure cutting individual and corporate income taxes in Arkansas by $124 million a year.
Arkansas: Sanders Signs Bill To Cut Income and Corporate Taxes (PHOTO: Twitter)
Sanders Signs Bill To Make It A Law To Cut High Tax Rate In Arkansas
Last Monday, Gov. Sanders signs on a bill to make it a law in cutting taxes in Arkansas for both individuals and corporations by as much as $186 million.
The reason why is that Arkansas struggling with high taxes, and inflation and citizens are struggling financially. The bill will cut some personal income tax rates from 4.9% go down to 4.7% and the corporate income tax rate from 5.3% it will come down to 5.1%, and it will impact 1.1 million state residents. They will also remove the throwback tax in Arkansas which requires people to pay when they sell items outside the city.
These changes will not just help the hard-working citizens of the country who struggle with inflation but also it will level the playing field without neighbors.
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Sanders Signs To Make It A Law In Cutting High Tax In Arkansas
In an interview at State Capitol, Sander also said that she is planning to sign the Social Media Safety Act. She said that she is looking for a way that people can engage in the process of high-tech technologies. She said that she is very excited and it’s her first time in the country. Social media companies will be accountable and protect teens and kids in the long run but especially it needs verification and guidance by the parents.
