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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]
State income tax is imposed at a fixed or graduated rate on taxable income of individuals, corporations, and certain estates and trusts. ... [24] and the Washington ...
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 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.
The following list of Arkansas state agencies includes the various Arkansas government branches and divisions. Executive offices ... Corporation Income Tax Section;
Arkansas State Capitol building in Little Rock designed by architect George R. Mann. The Arkansas General Assembly is the state's bicameral bodies of legislators, composed of the Senate and House of Representatives. Elections in the Arkansas Senate are staggered such that half the body is up for re-election every two years. Since the late 20th ...
Income tax: This tax is levied on the income of individuals, associations of persons (AOPs), and corporations. For instance, individuals earning less than PKR 600,000 annually are exempt from income tax , while those with annual earnings exceeding PKR 5.6 million are taxed at the highest rate of 45%.
When Arkansas applied for statehood, the slavery issue was again raised in Washington, D.C. Congress eventually approved the Arkansas Constitution after a 25-hour session, admitting Arkansas on June 15, 1836, as the 25th state and the 13th slave state, having a population of about 60,000. [36]