Taxes

Personal Income Tax
Resident individuals, estates and trusts and non-resident individuals, estates and trusts deriving income from within the state are subject to a tax on their net income at the following rates:

Net Taxable Income Rate

First $2,999	1%
Next $3,000	2.5%
Next $3,000	3.5%
Next $6,000	4.5%
Next $10,000	6%
$25,000 or over	7%

Property Tax
Arkansas does not have a state property tax. However, Arkansas cities and counties do collect a property tax, which is the principal source of revenue for those units of government.

Applicable Real Property Tax Rates -
Tax rate per $1,000 of Assessed Value (note: Assessed value is 20% of Appraised value)

West Memphis (City)	$2.00
Crittenden County	$7.20
School	$29.00
Total	$38.20

Ratio of Assessment

Residential	20%
Industrial - Real	20%
Industrial - Personal	20%
Production, Machinery, Equipment	20%
Raw Materials Inventory	None Goods in Process
Inventory	None

Sales Tax

State of Arkansas	6.00%
City of West Memphis	1.50%
Crittenden County	1.75%
Total	9.25%