State tax collections up in May | Arkansas Blog

Tuesday, June 2, 2015

State tax collections up in May

Posted By on Tue, Jun 2, 2015 at 9:36 AM

The state revenue report for May was encouraging for those banking on revenue growth to cover tax cuts and pay for increased spending, corporate welfare handouts and the like.

Gross revenue in May of $427.5 million was $2.2 million, or .5 percent more than last year, but $14.8 million, or 3.6 percent above forecast. The net revenue, after mandatory deductions for certain state agencies, was $40 million above forecast. The sales tax, a good barometer, was up 4.4 percent over last year. There will be a big surplus June 30, with net for the year $40 million ahead of a revised forecast with a month to go.


Tags:

From the ArkTimes store

Favorite

Comments

Subscribe to this thread:

Add a comment

More by Max Brantley

Readers also liked…

  • LR speakers blast state board for double standard

    A series of speakers, beginning with Sen. Joyce Elliott, denounced what they saw as a hidden agenda favoring charter schools at the state Department of Education and asked the state Board of Education for return of local control.
    • May 12, 2016
  • Women's March planned in Arkansas to mark Trump inauguration

    Speaking of Donald Trump and in answer to a reader's question: There will be a women's march in Arkansas on Jan. 21, the day after inauguration, as well as the national march planned in Washington.
    • Dec 30, 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