Skip to content

Small Businesses to Governor Sanders & General Assembly: Let’s Make Tax Cuts a Reality

Small Businesses to Governor Sanders & General Assembly: Let’s Make Tax Cuts a Reality

March 31, 2023 Last Edit: June 5, 2025

NFIB applauds Governor Sanders’ plan to cut state’s income tax

Small Businesses to Governor Sanders & General Assembly: Let’s Make Tax Cuts a Reality

LITTLE ROCK (March 31, 2023) – The National Federation of Independent Business (NFIB) here in Arkansas applauds Governor Sarah Huckabee Sanders’ plan to cut the state’s income tax. Following Governor Sanders’ announcement, NFIB State Director Katie Burns praised the proposal as a step forward for small businesses.

“Our small businesses face a myriad of challenges, from rising prices to the worker shortage. Cutting taxes for hardworking Arkansans will direct dollars back to business owners instead of sitting in government coffers waiting to be spent on more government programs. This plan will go back into the bottom line of small business owners so they can continue to keep Main Street communities across Arkansas alive by growing and creating jobs. We look forward to working with our new Governor, her team, and the General Assembly to make these tax cuts a reality.”

Background:

Because most small businesses in Arkansas are organized as pass-through entities, such as LLCs and partnerships, where owners pay taxes at the individual rate.

The Governor’s proposal would impact the more than 1.1 million Arkansas taxpayers who make more than $24,300. The tax cuts will total $100 million in personal income tax cuts, as well as $20 million in corporate tax cuts. The individual top rate will decrease from 4.9% to 4.7%. For Arkansas-based corporations, as well as those domiciled outside the state, the tax rate will decrease from 5.3% to 5.1%. The cuts will be retroactive and go into effect on January 1, 2023. The bill, SB 549, was introduced by Sen. Jonathan Dismang (R-Beebe) and Rep. Les Eaves (R-Searcy).

Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Receive our newsletter and email notification
Knowledge is power. Let us help you stay informed with breaking legislative news, regulatory updates, business tips, and more.

Related Articles

July 4, 2025
America’s Small Businesses Applaud President Trump, Congress…
Read More
United States Capitol Building Wide Shot
July 3, 2025
NFIB Thanks Congress for Passing Landmark Small Business Tax Re…
NFIB applauds Congress for passing the One Big Beautiful Bill Act, which in…
Read More
July 2, 2025
NFIB Jobs Report: Job Openings Remain a Challenge for Main Stre…
Labor quality remains a top problem for small businesses.
Read More
July 2, 2025
NFIB Key Votes One Big Beautiful Bill Act in U.S. Senate and Ho…
NFIB key votes the One Big Beautiful Bill Act in the 119th Congress and urg…
Read More

© 2001 - 2025 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy Policy | Accessibility