Moving to Arkansas a tax Guide for New Residents History of the Arkansas State Flag
Who is Considered a Part-Year or a Non-Resident?
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- What is the Capital Gains Tax Rate, and Who Pays It
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Who is Considered a Part-Year or a Non-Resident?If a person has a permanent residence or a dwelling place in Arkansas and intends to return to it after leaving or if a person spends more than six months of the taxable year in Arkansas, they are considered an Arkansas resident for state tax purposes. All non-residents must file a state tax return if they receive any income from an Arkansas source. Part-year residents must file a return if they receive any income from any source while a resident of Arkansas. To arrive at the percentage of the total tax owed to the State of Arkansas, you must divide the income earned in Arkansas by your total income. The Arkansas tax liability is then based on the pro-rata share of the total income. Indexed Tax Tables The Arkansas Individual Tax Rates are graduated rates from the minimum amount of 1% to the maximum amount 7% of net taxable income. The rates are adjusted annually for inflation and can be found on the website at: http://www.arkansas.gov/dfa/income_tax/tax_individual.html What is the Capital Gains Tax Rate, and Who Pays It?Arkansas has adopted federal law concerning capital gains. Thirty percent of net capital gains are excluded from income with the remaining 70 percent being treated as ordinary income. Long-term capital gains are realized on the sale of a capital asset held more than 12 months. Short-term capital gains are realized on the sale a capital asset held for one year or less and are 100% taxable as ordinary income. What is Estate Tax, and Who Must Pay It?Act 645 of 2003 repealed Arkansas estate tax for the estates of decedents dying on or after January 1, 2005. No Arkansas estate return is required if the decedent’s death occurs on or after the above date. For more information on individual income taxes, please contact the income tax office at the address and phone number below, or click on the link below to access the income tax website: Department of Finance and Administration Income Tax Section P.O. Box 3628 Little Rock, AR 72203-3628 (501) 682-1100 http://www.arkansas.gov/dfa/income_tax/tax_agency.html 
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