Border City Tax Exemption Once Again Under Scrutiny
Once again the Texarkana, Arkansas “border city tax exemption” is being reviewed by the state legislature. Seems kind of pointless, however, if Arkansas does indeed do away with income taxes next year like they’re currently discussing.
The House and Senate Committee on Revenue and Taxation is currently reviewing Arkansas’ multi-layered tax structure in anticipation of possibly cutting the state’s income tax next year. They’re currently studying all tax exemptions and exclusions on the books, as well as the severance tax, border tax and economic incentives.
They’ll meet again on July 18 to review economic development incentives.
In the meantime, Texarkana, Arkansas residents will continue to enjoy their income tax break while those of us who live in Texas, but work in Arkansas, will continue to groan every time we look at our paycheck stubs.