Taxation

Corporate Income Tax
Personal Income Tax
Sales and Use Taxes
Unemployment Insurance Tax
Corporate Franchise Tax
Capital Gains Tax Reduction
Property Tax
Payment in Lieu of Property Taxes

Property Tax

The State of Arkansas does not have a property tax; however, Arkansas cities and counties do collect a property tax, which is the principal source of revenue for funding local public schools.

The tax is calculated based on 20% of the fair market value of real and personal property and the average annual value of merchants' stocks and/or manufacturers' inventories based on millage rates in individual school districts. Business firms and individuals are subject to annual property tax on all real and personal property.