More revenue means no surcharge
By: Import User
Updated: January 7, 2009
Governor Huckabee says the economy is picking up in Arkansas to the point that the state can stop collecting a
three percent income tax surcharge.
Huckabee says state revenues are up, and it appears to be time to dump the surcharge, which was put in place when state collections were falling and the state was cutting its budget. The surcharge was enacted last year when the state had to cover a 250 million dollar budget shortfall. Huckabee says the surcharge was ill-conceived and bad for business. The governor says the surcharge hurts the state`s efforts to
recruit business. The law calls for the surcharge to be reduced or eliminated as tax collections increase.
