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What is Arkansas tax rate 2023?

Arkansas has five income tax brackets that apply to all filing statuses for tax year 2023, with rates ranging between 0% for income up to $5,100 and 4.7% for income over $24,300. Tax rates are applied to net taxable income in Arkansas, which is total personal income adjusted for any deductions and exemptions.

What is the capital gains tax rate for 2023 & 2024?

Here are the details on capital gains rates for the 2023 and 2024 tax years. For example, in 2023, individual filers won’t pay any capital gains tax if their total taxable income is $44,625 or below. However, they’ll pay 15 percent on capital gains if their income is $44,626 to $492,300. Above that income level, the rate jumps to 20 percent.

How are capital gains taxed in Arizona?

Arizona taxes capital gains as income, and both are taxed at the same rate of 2.5%. In Arkansas, 50% of long-term capital gains are treated as income and both are taxed at the same rates. All short-term capital gains are treated as income and 100% of these gains are taxed. Tax rates are the same for every filing status.

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