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Hutchinson signs tax-cut bills into law, says they couldn’t come ‘at a more important time’
Gov. Asa Hutchinson on Thursday signed into law identical tax cut bills that will accelerate the reduction of the state’s individual income tax rate from 5.5% to 4.9%, retroactive to Jan. 1, 2022, and the state’s top corporate income tax rate from 5.9% to 5.3%, effective Jan. 1, 2023.
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