| Taxation |
|
|
|
|
|
|
| |
| Corporate
Income Tax/Franchise Tax |
State |
Local |
|
| Rate
(range) |
1.0-6.5% |
NA |
|
| Formula
(e.g., Sales, Property & Payroll) |
Three
Factor Apportionment |
|
|
| Federal
Taxes Deductible |
|
|
|
| Accelerated
Depreciation Permitted (Yes or No) |
|
|
|
| Personal
Income Tax |
State |
Local |
|
| Rate
(Range) |
1.0-7.0% |
NA |
|
| Earned
Income |
|
|
|
| Unearned
Income (e.g., Dividend) |
|
|
|
| Local
Occupation Tax (Paid by Employee) |
Rate |
Basis |
|
| City
Residents |
NA |
NA |
|
| Non
City Residents |
NA |
NA |
|
| Local
Wage Tax (Paid by Employer) |
Rate |
Basis |
|
| City
Residents |
NA |
NA |
|
| Non
City Residents |
NA |
NA |
|
| Gross
Receipts Tax Rate by Type of Business |
|
| Not
more than $25 on a single transaction |
|
| Sales/Use
Tax Rate |
| State |
6.00% |
|
| Local |
2.25% |
|
| Total |
8.25% |
|
| Sales
Tax Rate by Utility: |
|
|
| Electric
Power |
8.25% |
|
| Nautral
Gas |
8.25% |
|
| Water |
8.25% |
|
| Sewer |
No |
|
| Telephone
Sales Tax Rates (State and local combined) |
| Local
Area |
No |
|
|
|
|
|
|
| Long
Distance In State |
6.00% |
|
|
|
|
|
|
| Long
Distance Out of State |
7.375% |
|
|
|
|
|
|
| Machinery
& Equipment Subject to Sales/Use Tax |
| Production |
No |
|
|
|
|
|
|
| Non-Production |
|
|
|
|
|
|
|
| Pollution
Control |
No |
|
|
|
|
|
|
| Office
Furniture/Fixtures/Equipment |
No |
|
|
|
|
|
|
| Sales/Use
Tax (Yes or No) on |
|
|
|
|
|
|
|
| Office
Building Construction Materials |
No |
|
|
|
|
|
|
| Industrial
Building Construction Materials |
No |
|
|
|
|
|
|
| Manufacturers'
Raw Materials |
No |
|
|
|
|
|
|
| Standard
Software |
Yes |
|
|
|
|
|
|
| Custom
Software |
Yes |
|
|
|
|
|
|
| Real
Property Tax Rates in Conway |
|
|
|
|
|
|
|
| City
Millage |
2.9 |
|
|
|
|
|
|
| County
Millage |
7.4 |
|
|
|
|
|
|
| School Millage |
36.2 |
|
|
|
|
|
|
| Special District Millage |
|
|
|
|
|
|
|
| Total Millage |
46.5 |
|
|
|
|
|
|
| Assessment
Ratio (%) |
20% |
|
|
|
|
|
|
| Effective Rate per $100 |
$9.30 |
|
|
|
|
|
|
| Personal
Property Tax Rates in Conway |
|
|
|
|
|
|
|
| City Millage |
2.9 |
|
|
|
|
|
|
| County Millage |
7.4 |
|
|
|
|
|
|
| School Millage |
36.2 |
|
|
|
|
|
|
| Special District Millage |
|
|
|
|
|
|
|
| Total Millage |
46.5 |
|
|
|
|
|
|
| Assessment Ratio (%) |
20% |
|
|
|
|
|
|
| Effective Rate per $100 |
$9.30 |
|
|
|
|
|
|
| State
Property Tax Effective Rate per $100 in Conway |
| Real
Property (land/building) |
NA |
|
| Personal
Property (machinery/equipment) |
NA |
|
| Subject
to Personal Property Tax |
| Production
Machinery & Equipment |
Yes |
|
| Non
Production Machinery & Equipment |
Yes |
|
| Pollution
Control |
Yes |
|
| Inventory |
|
|
Raw
Materials
|
Yes |
|
Work
in Progress
|
Yes |
|
Finished
Goods
|
Yes |
|
| Freeport
Legislation |
|
|
Applicable
to Warehousing
|
Yes |
|
Applicable
to Manufacturing
|
Yes |
|
Goods
Stored in a Public Warehouse
|
Yes |
|
City/County
Option to Allow Freeport (yes or no)
|
No |
|
| Office
Furniture-Fixtures |
|
|
Computer
Equipment
|
Yes |
|
Workstations
|
Yes |
|
Telephones
|
Yes |
|
Furniture
|
Yes |
|
| Company
Vehicles |
Yes |
|
| Standard
Software |
Yes |
|
| Custom
Software |
Yes |
|
