According to Arkansas Individual Income Tax Booklet, whether or not you have to file an Arkansas tax return depends on your filing status and gross income. Full Year Residents: Single, $12,493. Head of Household with 1 or no dependents, $17,762.
How much money can you make and not pay taxes?
The amount that you have to make to not pay federal income tax depends on your age, filing status, your dependency on other taxpayers and your gross income. For example, in the year 2018, the maximum earning before paying taxes for a single person under the age of 65 was $12,000.
Do I have to file Arkansas state income tax?
Arkansas has a state income tax, meaning most who earned money in the state must file a return each spring.
Who qualifies for low income tax rates in Arkansas?
In 2021, Arkansans who earned up to $22,899 fall into the low income tax table, Arkansans who earned between $22,900 and $82,000 fall into the middle income tax table and Arkansans who earned $82,001 or more fall into the high income tax table.
How much money do you have to make to not pay taxes 2020?
How much do you have to make to file taxes — What is the minimum income to file taxes? The minimum income amount depends on your filing status and age. In 2020, for example, the minimum for single filing status if under age 65 is $12,400.
Does Social Security count as income?
Social Security benefits do not count as gross income. However, the IRS does count them in your combined income for the purpose of determining if you must pay taxes on your benefits.
Who is exempt from paying property taxes in Arkansas?
Age 65 or Disabled Homeowner Property Tax Relief
You qualify for this property tax relief if you are eligible for the homestead tax credit and are: 65 and older or. Disabled.
Is Arkansas a good place to live?
Arkansas is a good place to live especially if you prefer to live close to the vast American wilderness. Given the natural beauty of the state and that the cost of living is low across most of the state; there are scores of great areas to live in Arkansas.
Who must file a tax return in Arkansas?
Part year residents who received any gross income while an Arkansas resident must file a return (regardless of marital status, filing status, or amount). *Gross income is all income (before deductions) other than income specifically described as exempt on pages 9 and 10 “Exempt From Income Tax.”
What is the deadline to file taxes in Arkansas?
DUE TO CORONAVIRUS (COVID-19)
The extension to July 15 is automatic and the taxpayer does not need to file for an extension. The April 15, 2020 to July 15, 2020 period will be disregarded for purposes of calculation of interest and penalties.