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Senate panel approves bill to bar Arkansas cities and counties from levying income taxes
Summary
The Senate Revenue & Tax Committee approved HB 10-26, which would remove statutory authority for cities and counties to adopt local income taxes; sponsor described the measure as preventive with no anticipated revenue impact and the committee passed it by voice vote.
Senator Payton presented House Bill 10-26 to the Senate Revenue & Tax Committee, saying the bill would remove statutory provisions that allow cities and counties in Arkansas to impose an income tax. "Income taxes are one of the most economically damaging of all taxes because they penalize work and income," the sponsor said while arguing the bill is "an ounce of…
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