The top corporate income tax rate in Arkansas took another drop at the start of 2023, going from 5.9% to 5.3% but is still higher than the rate in Oklahoma and a few other of its surrounding states.
Oklahoma’s rate is 4%. Arkansas Gov. Asa Hutchinson campaigned for the lower rate.
The Arkansas Democrat-Gazette reported that the top corporate income tax rate for Arkansas’ surrounding states will be as follows beginning this week:
• Texas, 0%.
• Missouri, 4%.
• Oklahoma, 4%.
• Mississippi, 5%.
• Tennessee, 6.5%.
• Louisiana, 7.5 %.
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