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VOL. 128 | NO. 47 | Friday, March 08, 2013

Arkansas Senate Approves Tax Exemption for Military

AP

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LITTLE ROCK, Ark. (AP) – The Arkansas Senate has approved a proposal to exempt the pay for active duty military from state income taxes, the first major tax reduction lawmakers are considering this legislative session.

The Senate on Thursday voted 34-0 to approve the tax cut proposal. Officials say it will cost Arkansas about $7.2 million annually and would benefit about 6,300 people in the state. The proposal by Republican Sen. Jim Hendren of Gravette is sponsored by 23 of the Senate's 35 members.

The cut is among dozens proposed since Republicans won control of the House and Senate – in part on a vow to reduce taxes.

State finance officials have warned that there's no money in Democratic Gov. Mike Beebe's proposed budget for additional tax reductions without making cuts in the budget.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 69 311 15,028
MORTGAGES 83 338 19,668
FORECLOSURE NOTICES 0 43 3,838
BUILDING PERMITS 0 512 35,842
BANKRUPTCIES 61 243 14,277
BUSINESS LICENSES 16 120 5,111
UTILITY CONNECTIONS 70 316 21,749
MARRIAGE LICENSES 0 75 4,632

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