Skip to content

Small Businesses Applaud Governor Sanders’ Call for Special Session Tax Cuts

Small Businesses Applaud Governor Sanders’ Call for Special Session Tax Cuts

September 8, 2023 Last Edit: June 5, 2025

NFIB Arkansas supports responsibly eliminating the state’s income tax.

Small Businesses Applaud Governor Sanders’ Call for Special Session Tax Cuts

LITTLE ROCK (Sept. 8, 2023) – Upon Governor Sarah Huckabee Sanders’ call for a special session to cut the state income and corporate tax rates, NFIB State Director Katie Burns applauded the announcement and urged lawmakers to keep small business owners in mind during the negotiations. “NFIB-Arkansas members are grateful the Governor is working to uphold her commitment to responsibly phasing out our state’s income tax. The tax cuts from the regular session were just the first step of many. Once the income tax is fully eliminated, our state will be more competitive with neighboring states, and small businesses will be better positioned to create jobs, raise wages, and expand their operations. We look forward to working with lawmakers to ensure small businesses can continue to thrive.” Background: NFIB Arkansas supported the $186 million tax relief passed during the 94th General Assembly’s Regular Session, which was retroactive and went into effect on January 1, 2023. The tax reform decreased the individual top rate from 4.9% to 4.7%. For Arkansas-based corporations, as well as those domiciled outside the state, the tax rate decreased from 5.3% to 5.1%. In today’s press conference, Governor Sanders announced her intent to support legislation that would cut personal income taxes by $250 million and corporate taxes by $58 million. This would result in a top rate of 4.4% and 4.8%, respectively. The Governor also announced that the legislation would establish a reserve fund of $710 million in order to slowly phase out state income tax, as well as a one-time retroactive tax credit of $150 to those making less than $90,000.  
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

September 18, 2025
LISTEN: NFIB’s Jeff Burdett Appears on KRLD’s Ask the Exper…
NFIB State Director Jeff Burdett urges listeners to vote ‘YES’ on Prop…
Read More
African American on a computer while at his wood workshop wearing a blue smock
September 15, 2025
Tell Us How These Proposed Illinois Taxes Would Impact Your Bus…
We want to hear from you! Share with us how these potential Illinois tax in…
Read More
Businessman pressing an Taxes concept button on a circular display.
September 10, 2025
Largest Tax Hike in State History Starts Oct. 1, 2025
Sales, B&O taxes set to increase over the next 15 months
Read More
September 9, 2025
NEW NFIB SURVEY: Small Business Optimism Improves Again 
Main Street cites labor quality as the top issue, according to new survey.
Read More

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