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The Arkansas Department of Finance and Administration (commonly DFA within the state) is a department of the government of Arkansas under the Governor of Arkansas.. The DFA is a cabinet level agency in the executive branch of government responsible for providing citizens with tax, licensure, or child support service and state agencies in their administration and budgeting.
Following reorganization in 2019, Arkansas state government's executive branch contains fifteen cabinet-level departments. Many formerly independent departments were consolidated as "divisions" under newly created departments under a shared services model.
The figure includes all Individual federal taxes and Corporate Federal Taxes, income taxes, payroll taxes, estate taxes, gift taxes, and excise taxes. This table does not include federal tax revenue data from U.S. Armed Forces personnel stationed overseas, U.S. territories other than Puerto Rico, and U.S. citizens and legal residents living ...
Arkansas, individual and corporate, from 1929; ... and self-government, eventually to lead to independence, began between 1979 and 1981 in all parts of the Trust ...
Taxpayers are exempt from Arkansas income tax, and residents of Texarkana, Texas are exempt from Arkansas income tax from any income earned within the city limits of Texarkana, Arkansas. [48] Sales and use taxes in Arkansas are voter approved and collected by the DFA. Arkansas's statewide sales and use tax has been 6.5% since July 1, 2013. [49]
Arkansas is the 48th richest state in the United States of America, with a per capita income of $16,904 (2000). Arkansas Counties Ranked by Per Capita Income [ edit ]
The economy of Arkansas produced $176.24 billion of gross domestic product in 2023. [1] Six Fortune 500 companies are based in Arkansas, including the world's #1 corporation by revenue, Walmart. [8] Arkansas's per capita income for 2023 was $54,347, and the median household income was $55,432, which ranked 47th among U.S. states. [2] [9]
Arkansas residents whose permanent residence is within the city limits of Texarkana, Arkansas, are exempt from Arkansas individual income taxes. [13] The Federal Courthouse (which holds the city's only post office) is located directly on the Arkansas-Texas state line. It is the only federal office building to straddle a state line.