2024 Standard Deductions And Tax Brackets. In tax year 2024, the standard deductions are as follows: If you make $70,000 a year living in arkansas you will be taxed $10,815.
The 2024 standard deduction amounts are as follows: For tax year 2024, which applies to taxes filed in 2025, there are seven federal tax brackets with income tax rates of 10%, 12%, 22%, 24%, 32, 35%, and 37%.