Tuesday, October 4, 2016

State revenue staying flat

Posted By on Tue, Oct 4, 2016 at 10:01 AM

The monthly report on state tax take continues to reflect a lack of growth.

September gross revenue of $578.8 million was a bare $1.7 million above last year and 2.9 percent less than the forecast on which the state budget is based.

September net, after mandatory set asides for certain state agencies, was $515.5 million, about $500,000 less than the same month last year and 3.1 percent below forecast.

The key sales tax produced less than the same month last year. Corporate income tax was a whopping 9.1 percent less than last year, almost $10 million below forecast. Individual income tax collections were up 3.9 percent over a year ago, a good bit of that likely due to the high employment (also: working poor got no income tax cut from the Hutchinson administration).

In time, these kind of numbers can have implications. After three months of the budget year net revenue is $4.3 million behind last year and, more important, $32 million below forecast. There is no surplus, in other words, though the budget includes some rainy day money.

September_2016_end_of_the_month_report.pdf Here's the full report/



Comments (4)

Showing 1-4 of 4

Add a comment

Subscribe to this thread:
Showing 1-4 of 4

Add a comment

More by Max Brantley

  • Marijuana backer faults state's cost report

    David Couch, spokesman for the group backing the amendment,, Issue 6, to allow medical marijuana in Arkansas, has sent a  response to a state report issued this week on the impact of the measure.
    • Oct 21, 2016
  • TGIF and the video report

    Here's an open line along with the mid-afternoon news and comment.
    • Oct 21, 2016
  • How about cheese dip for lunch Saturday?

    Big day in Little Rock tomorrow, what with the Race for the Cure hordes on the street. What's for lunch?How about the World Cheese Dip Championship from noon to 3 p.m. in the River Market Pavilion.
    • Oct 21, 2016
  • More »

Readers also liked…

  • Foster family disputes key statements from Justin Harris

    Craig and Cheryl Hart were the foster parents of the two sisters who were adopted by Rep. Justin Harris and his wife Marsha and later "rehomed." The Harts say that the adoption was allowed to proceed over the objections of the foster parents and local DHS staff due to pressure exerted by Cecile Blucker, head of the Division of Children and Family Services, on behalf of Justin Harris.
    • Mar 7, 2015
  • War. What is it good for? Tom Cotton has an idea

    Twenty-four hours after meddling in President Obama's talks with Iran, hawkish Sen. Tom Cotton scheduled an off-the-record meeting with defense contractors, who'd be happy to supply goods for U.S. armed incursions in the Middle East.
    • Mar 9, 2015
  • Rep. Nate Bell blasts adoption story before seeing it; 'rehoming' bill introduced

    Response to our story about rehoming and adoption has been overwhelmingly positive, with one exception. Rep. Nate Bell (R-Mena) has informed me that writing this story makes me the predator and Justin Harris the victim. I'm hellbound, apparently.
    • Mar 4, 2015

Most Shared

Most Viewed

Most Recent Comments



© 2016 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation