Tag: Arkansas tax revenue

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…

Arkansas tax revenue up 3.7% through first eight months of fiscal year

Arkansas’ tax vault is holding $151 million more in revenue than expected through the first eight months of the fiscal year thanks in large part to an improving jobs picture,…

Holiday sales lift December tax collections, state budget officials revise forecast ahead of 2018 fiscal session

Robust holiday sales receipts bolstered tax collections in December after Arkansas budget officials revised the state’s official general revenue forecast heading into the upcoming fiscal session that begins in early…

State tax collections continue flat in November, yearly receipts nearly $27 million below forecast

State tax collections in November were mostly flat ahead of the all-important Christmas shopping season as Arkansas households appear reticent to hike spending during the holiday although consumer confidence across…

Arkansas tax revenue up 1.4% on strength of individual income tax collections

Fiscal year-to-date (July to October) total tax collections in Arkansas reached $2.079 billion, up 1.4% compared to the same period last year. Sales tax revenue, a sign of consumer and…

Arkansas budget coffers still ahead of forecast, September collections tepid

Arkansas’ economy continues to see broad-based growth in the first quarter of fiscal 2018 even as state revenue collections remained mostly flat, caused mainly by a continued decline in new…

Arkansas tax collections flat thanks to broad sales tax weaknesses in August

Revenue collections in the second month of fiscal 2018 came in flat as several major tax categories were below forecast, although U.S. national data show consumer confidence is at a…

July tax revenue gets boost with $1.4 million from unclaimed property program

Robust individual and corporate income tax collections and an unexpected $1.4 million boost from the State Auditor’s Office unclaimed property program improved the state’s budget profile at the start of…

State’s fiscal year ends with $15.7 million surplus on strong June tax collections

Arkansas budget coffers were brimming in June as tax collections in all major categories came in well above forecast and the state’s financial books for fiscal 2017 were closed with…

Arkansas tax revenue collections above revised forecast in May

Arkansas tax revenue collections in May were well above a recently revised forecast mainly because of improved sales and use tax revenue and inflows in other major tax categories. But…