Independence County Demographics
City of Batesville Demographics
State of Arkansas Taxes
Corporate income tax
The corporate income tax is a graduated tax on net income: the rates incrementally increase for higher amounts of income, with the highest bracket being net income of $100,000 or more; rates range from 1% to 6.5%. The specific breakdown is as follows:
- amounts up to $3,000 of net income taxed at 1%
- amounts from $3,001 to $6,000 of net income taxed at 2%
- amounts from $6,001 to $11,000 of net income taxed at 3%
- amounts from $11,001 to $25,000 of net income taxed at 5%
- amounts from $25,001 to $100,000 taxed at $940 plus 6% of the amount over $25,000; and
- amounts exceeding $100,000 taxed at $5,440 plus 6.5% of the amount over $100,000.
Payment of the corporate income tax is due two-and-a-half months after the end of the tax period covered. Thus, for corporations whose tax year follows the calendar year, the tax is due on March 15th.
Arkansas’s corporation franchise tax applies to the most common types of stock corporations as well as to LLCs. For stock corporations, the tax is 0.3% of the value of the corporation’s outstanding stock with a minimum tax of $150. LLCs are required to pay the minimum $150 franchise tax. The franchise tax is due on May 1st.
There is no state property tax.
Arkansas has a 6.5% sales tax rate.
- Department of Finance & Administration Income Tax Information
- Arkansas E-File
- Federal Employer Identification Number Application
- Internal Revenue Service
Independence County Taxes
Independence County has a 1.75% sales tax rate.
Personal Property Tax
The deadline to assess personal property taxes is March 31st. The deadline to pay personal property taxes is October 15th.