February state tax take below forecast | Arkansas Blog

Tuesday, March 4, 2014

February state tax take below forecast

Posted By on Tue, Mar 4, 2014 at 12:49 PM

February was another month of mixed results on state revenue, though the total  still came in ahead of last year. The key monthly numbers, including poor results on sales taxes:

February Net Available General Revenues total $212.2 million, $2.0 million or 1.0 percent above last year and $4.7 million or -2.2 percent below forecast.

Results were significantly impacted by: 1) decline in Sales and Use tax compared to year ago and versus forecast, 2) higher-than expected growth in individual refunds due in part to delayed start of the tax filing season in January, and 3) a positive contribution from temporary effects of payroll timing for Individual Withholding tax.

Sales and Use tax collections in February largely reflect economic activity in January. Weather effects on collections were noted in the retail sector.

Among other revenue categories, corporate Income tax was below year ago and forecast in an otherwise low-activity month and Tobacco tax collections were down sharply.

February Gross General Revenues: February collections total $427.3 million, an increase of $16.0 million or 3.9 percent from last year and $3.0 million or -0.7 percent below forecast.

Tags: ,


Sign up for the Daily Update email
Favorite

Comments

Showing 1-1 of 1

Add a comment

 
Subscribe to this thread:
Showing 1-1 of 1

Add a comment

More by Max Brantley

  • Where's the outrage?

    Am I the only person, apart from federal prosecutors, outraged about the criminal enterprise that inveigled itself into a privileged position as an Arkansas taxpayer-financed human services provider to the tune, today, of $43 million a year?
    • Jun 21, 2018
  • Where's the outrage?

    • Jun 21, 2018
  • Rutledge opponent hits her socializing with corporate interests

    Mike Lee, the Democratic candidate for attorney general, has criticized Attorney General Leslie Rutledge over recent reports of her participation at private meetings where corporate interests make big contributions to a political group she heads for access to state legal officers.
    • Jun 21, 2018
  • More »

Readers also liked…

Most Viewed

Most Recent Comments

Slideshows

 

© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation