Income Tax Surcharge Bill Filed - KAIT Jonesboro, AR - Region 8 News, weather, sports

84th General Assembly Special Session

Income Tax Surcharge Bill Filed

May 5, 2003
Posted at: 4:20 p.m. CDT

LITTLE ROCK, Ark. -- A House committee Monday afternoon sent forward a bill that would add a new charge onto state income tax.

The committee approved a seven-percent surcharge. For example, under the bill anyone who owed 100 dollars in state taxes would pay a hundred and seven dollars.

Supporters hope the surcharge would bring in $93 million the first year.

Taxpayers could deduct the surcharge on their federal tax returns. It would be in effect for two years.

The bill now goes to the House floor, but some legislators grumble it is just a distraction from figuring out how to raise revenue. The bill would take a three-fourths vote to be approved.

A previous attempt to enact a 10-percent surcharge fell far short of approval.

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