Tag: Arkansas tax revenue

Arkansas sales tax revenue up almost 15% in February report, revenue surplus tops $500 million

The February tax revenue report again shows broad year-over-year gains to include an almost 15% increase in statewide sales and use tax revenue – a sign that consumer spending appears…

Arkansas tax revenue up almost 10%, available revenue surplus reaches $319 million

Tax revenue continues to post solid gains considering that Arkansas’ economy still struggles under the weight of COVID-19. Gross revenue for the first six fiscal months (July-December) is up almost…

Arkansas’ gross tax revenue up almost 12% for the fiscal year

Gains in retail and vehicle sales, along with a shift in individual income tax payments, continue to show up in Arkansas tax revenue that beats estimates. For the first five…

Arkansas tax revenue continues to beat projections, up 2% in October

Tax revenue in Arkansas’ first four fiscal months (July-October) totaled $2.558 billion, up 13.8% from the same period in 2019 and 12% over the budget forecast. The increase has resulted…

Arkansas’ fiscal year tax revenue up almost 30%

As measured by double-digit gains in sales tax revenue in the state’s August report, Arkansans continued to spend through the summer despite COVID-19 worries, with gross revenue up almost 30%…

Arkansas’ fiscal year off to a good start with 47.2% increase in July revenue

State tax revenue in July totaled $766.8 million, up 47.2% thanks to an almost 90% growth in individual income tax resulting from a tax deadline shift from April to July,…

Arkansas ends fiscal year 2020 with better-than-expected revenue of $369.4 million

Fiscal year 2020 (July 2019-June 2020) tax revenue ended down just 2.5% despite several months in early 2020 of economic disruption resulting from COVID-19 shutdowns. The revenue was 4.1% above…

2.2% pay increase set for state employees; state tax revenue better than expected

Gov. Asa Hutchinson said Tuesday (June 30) that better-than-anticipated tax revenue allows him to authorize a 2.2% merit pay increase for all state employees. The governor said the state will…

May tax revenue down only 2%; Gov. Hutchinson ‘delighted’ with the report

May tax revenues did not see a big decline because of the COVID-19 disruption. Arkansas tax revenue in the first 11 months of the fiscal year (July 2019-May 2020) is…

April tax revenue down 28.3%, fiscal year-to-date revenue down 1.9%

Arkansas tax revenue in the first 10 months of the fiscal year (July 2019-April 2020) is down 1.9%, but revenue in the April report was down more than 28% because…

Payroll taxes, auto sales boost Arkansas revenue up 9.2% in February report

Better than expected payroll tax revenue and auto sales helped push state tax revenue above estimates. Year-to-date gross general tax revenue (July-February) totaled $4.531 billion, up 4.3% from the same…

Arkansas tax revenue up 3.4% in first six months of fiscal year

Year-to-date gross general tax revenue (July-December) totaled $3.376 billion, up 3.4% from the same period in 2018, with a gain in sales tax revenue and a rebound in auto sales…

Arkansas tax revenue up almost 4% through first five months of fiscal year

Year-to-date gross general tax revenue (July-November) totaled $2.763 billion, up 3.9% from the same period in 2018, with a healthy gain in sales tax revenue and payday timing helping boost…

Healthy tax collections boost Arkansas budget surplus to nearly $73 million in October

Heading into the all-important holiday season, Arkansas budget coffers in October were bolstered by healthy across-the-board tax collections in every major category, pushing funds available for state government use well…

Arkansas ends fiscal 2019 with $295 million surplus, Gov. Hutchinson touts economic growth

Arkansas budget coffers overflowed with a surplus of nearly $300 million at the end of fiscal year 2019 but state tax officials are budgeting conservatively for the next 12 months…

Arkansas tax collections $5.1 million below forecast, four months left in fiscal year

Arkansas tax collections fell short of expectations in February due to thousands of federal employees across the state impacted by the partial government shutdown last month, state budget officials said…

State tax collections up across the board, payroll tax revenue up 5.8%

Arkansas tax collections were up across all categories in August as the state’s economy gained momentum heading into the post-Labor Day lull before turning the corner toward the all-important holiday…

State budget holds $44.2 million surplus as fiscal 2018 nears end

As Arkansas budget officials wind down the end of fiscal 2018, Gov. Asa Hutchinson gave a “solid” rating to the state’s economy Monday (June 4) as revenue collections came in…

DFA: State tax collections look ‘favorable’ with two months left in fiscal 2018

Two months before the end of fiscal year 2018, state budget coffers are nearly $54 million ahead of forecast despite lukewarm tax collections in April after more Arkansans received bigger…

Arkansas tax revenue up 3.5% through March, officials watching refund ‘volatility’

Year-to-date Arkansas tax revenue continues to trend above expectations even with a March revenue report that was 0.5% below the forecast. Much of the dip in March was tied to…