Arkansas tax take shows signs of recovery | Arkansas Blog

Tuesday, July 5, 2011

Arkansas tax take shows signs of recovery

Posted By on Tue, Jul 5, 2011 at 9:57 AM

The state revenue report for the fiscal year ending June 30 is in and it shows net income for the year up by almost $250 million, or 5.8 percent more than the previous year, and 2.1 percent above forecast. It was a welcome trend reversal. Total income declined each of the last two years.

State officials see an economic recovery in the annual numbers, but note a softness in sales tax collections, which fell below forecast, perhaps due to the rising price of gasoline.

HOWEVER, the numbers for June itself were robust — net revenues up 13.3 percent against the same month a year ago and 18.9 percent more than forecast.

The state ended the year with a "surplus" in the range of $90 million. Some of that money is committed. All could be readily committed to Medicaid, prisons and other projects with yawning needs. Roby Brock talked to some legislative leaders about the surplus and got some sound, cautious comments on both sides of the aisle. Some teabaggers will soon be singing a different tune, sound government not being one of their priorities.

Tags: , ,

From the ArkTimes store

Favorite

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

Readers also liked…

  • Judge anticipates punishment of lawyers in Fort Smith class action case

    Federal Judge P.K. Holmes of Fort Smith issued a 32-page ruling yesterday indicating he contemplates punishment of 16 lawyers who moved a class action lawsuit against an insurance company out of his court to a state court in Polk County after a settlement had been worked out.
    • Apr 15, 2016
  • UPDATE: Hutchinson moves to cover himself on cut to War Memorial Stadium

    Gov. Asa Hutchinson apparently felt the burn from KARK's exclusive Tuesday night on his plans to cut state support of War Memorial Stadium in half beginning July 1, 2018. He has a so-far secret plan to make the stadium self-sustaining. We bet that doesn't include state support.
    • Oct 20, 2016
  • Saturday's open line

    Got any thoughts? Put them here.
    • May 21, 2016

Most Shared

Most Recent Comments

Blogroll

 

© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation