Income tax withholding tables adjusted due to most recent tax cut

• Posted Date: 07/15/2024
• Office: All DFA
• News:

FOR IMMEDIATE RELEASE:
July 15, 2024

FOR MORE INFORMATION:
Scott Hardin, DFA
501-352-9351, [email protected]

Income tax withholding tables adjusted due to most recent tax cut
Arkansas employers notified of changes

LITTLE ROCK, Arkansas (July 15, 2024) - The Arkansas Department of Finance and Administration (DFA) has announced to the state's approximately 80,000 employers that the income tax withholding tables have been adjusted, effective immediately, to reflect the income tax cut recently passed by the Arkansas General Assembly and signed by Governor Sarah Huckabee Sanders. As a result, Arkansans may see an increase in the amount of their paychecks.

"My administration's tax cuts are already putting more money in Arkansans' pockets," said Governor Sanders. "Thanks to the cuts the legislature passed and I signed into law since taking office, 1.1 million Arkansans - the majority of taxpayers in the state - will pay a lower rate."

Employers will adopt the changes to withholding tables through their payroll systems. There is not any action required from employees.

"The General Assembly and Governor Sanders reduced state income taxes for the third time in two years, with this reduction benefitting more than a million taxpayers," said DFA Secretary Jim Hudson. "The reduction of the top individual income tax rate from 4.4% to 3.9% results in taxpayers keeping more of their money every year moving forward. This adjustment ensures payroll withholding is consistent with the new, lower rate."

Employers may find the new tables at http://ar.gov/WithholdingTaxTables.

Additional information on DFA may be found at www.dfa.arkansas.gov.

###

Public link

Please use the above public link if you want to share this noodl on another website.