The state of Arkansas has made the following tax law changes for tax year 2019:
- Achieving a Better Life Experience Program (ABLE)- Contributions to an established account is deductible up to $5,000 per taxpayer per tax year.
- Limitation for Charitable Contributions- Adjusted gross income limitation for cash contributions increased to 60%
- Tax Reform and Relief- Income tax rates for those that have a net income less than $22,600 has been reduced.
You can read more about the changes to Arkansas Tax Law here.