State Tax Increase Happens Today
By: Import User
Updated: January 7, 2009
Arkansas` sales tax has officially increased to
six cents on the dollar.
The change happened today because the state Legislature passed
the tax hike during the special session to pay for court-ordered
education reforms.
The increase from 5.125 is expected to raise
about 338 million dollars a year for public schools in its
first fiscal year and 348 million dollars the following fiscal
year.
Compared to surrounding states, Arkansas` sales tax will still
be lower than Mississippi`s and Tennessee`s. Those states have a
seven cent tax. But Arkansas` sales tax will now be higher than
Oklahoma`s, Missouri`s, and Louisiana`s.
