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State Taxes
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Corporate Franchise Tax
The Arkansas Franchise Tax is an annual tax imposed on Arkansas corporations for the grant of charter privileges and on non-Arkansas corporations for the privilege of doing business.
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Corporate Income Tax
Corporations doing business in Arkansas are subject to tax on net income at specific rates.
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Personal Income Tax
Resident and nonresident individuals, estates, and trusts deriving income from within the state are subject to a tax on their net income at the certain rates.
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Property Tax
Both the State of Arkansas and the City of Sherwood do not have a property tax; however, Pulaski County does collect property tax, which is the principal source of revenue for funding local public schools, roads, and libraries.
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Sales & Use Taxes
The Arkansas sales tax is 5.125% of the gross receipts from the sales of tangible personal property and some services. The tax is paid by the consumer at the point of final sale and is computed on the total consideration received without any deduction for expenses.
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Unemployment Insurance Tax
Every business in Arkansas pays an unemployment insurance tax.