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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 This material may not be published, broadcast, rewritten or redistributed.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 49 213 4,664
MORTGAGES 68 278 5,611
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 250 504 10,250
BANKRUPTCIES 48 141 3,608
BUSINESS LICENSES 31 98 1,833
UTILITY CONNECTIONS 56 177 3,960
MARRIAGE LICENSES 10 55 1,079

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