Our friends at the Tax Foundation are out with updated rankings on combined state and local sales tax rates, and here you go: Arkansas checks in with the sixth highest combined rates in the nation.
I’ll not belabor the point on that, as it’s something we’ve seen before. But it’s always a salutary reminder: since Arkansas legislators convened this week in Little Rock for a fiscal session devoted to budget matters, it’s worth considering what you’re paying in taxes and what you’re getting for your money. Pause to ask why it should be that, in most rankings we see, the Natural State should land so high. (You’ll recall our post from a couple of months ago about Arkansas’s high income tax rate, and how the state’s unfriendly tax climate dampens business and economic growth).
Just some food for thought as the powers that be in Little Rock joust over budget matters. Do with it what you will.