Taxes

Local Taxes

Applicable Local Ad Valorem Taxes

$44.10 per $1,000 Assessed Value
(Nettleton School District)

	County General:                .0040
	County Road:                    .0021
	Library:                            .0020
	Policemen’s Pension:        .0005
	Firemen’s Pension:           .0005
	Nettleton School Millage:  .0350
	TOTAL:                             .0441

Rate of Assessment

Residential, Industrial Real and Industrial Personal Property is assessed at a rate of 20% of Fair Market Value

Payment in Lieu of Taxes (PILOT)

If taxable, or non-taxable, municipal Industrial Revenue Bonds are used to finance land, buildings or equipment for a project, a letter of agreement for a Payment in Lieu of Taxes (PILOT) will be considered. 

State law requires that the agreement provide at least 35% of the regular annual tax rate until the bonds are retired.

Raw Materials, Goods-in-Process Inventory and Finished Goods Inventory

Tangible personal property in transit through Arkansas and inventory tangible personal property manufactured, processed or refined in Arkansas and stored for shipment outside the state are exempt from taxes.

Applicable Municipal Related Taxes on Employees

NONE

Sales Taxes

Combined Sales Tax

	Arkansas State Sales Tax: 6.0% (1.5% grocery)
	City Sales Tax: 1.5%
	County Sales Tax: 1.0%
	TOTAL: 8.5% (4% grocery)

Arkansas State Taxes

Taxes levied by the State of Arkansas include the following:

	Corporate and Personal Income Tax
	Sales and Use Tax
	Unemployment Insurance Tax
	Corporate Franchise Tax
	Capital Gains Tax Reduction
	Property Tax

For details, visit the Arkansas Department of Economic Development Website at:  www.arkansasedc.com

Source:  Craighead County and the Arkansas Department of Finance & Administration, December 2011