NORTH LITTLE ROCK, AR (News release) - Businessman and conservative Republican candidate for governor Curtis Coleman proposed today eight consecutive years of state income tax cuts for Arkansas taxpayers.
Coleman announced his tax and regulatory proposals, "Let Arkansas Prosper," at his campaign headquarters in North Little Rock.
Coleman's plan also calls for the elimination of corporate taxes on Arkansas' "Mom and Pop" businesses, small businesses with net taxable incomes of less than $1 million.
Coleman said the State needs to draw even with neighboring states by exempting all military retiree pay from state income taxes. "And it's simply the right thing to do," Coleman said. In his plan to reduce the number of Arkansans living in poverty, Coleman calls for all Arkansas' counties with a median household income of less than the state average of about $40,100 to be designated tax-free enterprise zones. New businesses that don't compete with existing businesses in these zones can locate in these designated counties and operate with no corporate tax payments for their first 10 years.
"I have no doubt we can do this," Coleman said. "Arkansas has the capacities and resources to be one of the most prosperous states in the country. The adjustments we need to make are not radical or extreme. My proposals just give us an opportunity to successfully compete with other states for better paying jobs and more opportunities to be the successful people we can be."
Coleman was the founding CEO and President of Safe Foods Corporation, an international food safety company headquartered in North Little Rock. While CEO of Safe Foods Corp., he frequently lectured on team building and servant leadership for the University of Arkansas’ Sam M. Walton School of Business Emerging Leaders program. In 2010, he founded The Institute for Constitutional Policy.
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