State tax take up sharply in March | Arkansas Blog

Monday, April 4, 2016

State tax take up sharply in March

Posted By on Mon, Apr 4, 2016 at 10:29 AM

The state says Arkansas tax revenue in March was up $11 million, or 2.1 percent, over income in the same month last year and almost $21 million ahead of forecast.

The rise was based on much smaller than expected income tax refunds ($37 million less than last year), but also growth in major tax categories, such as the sales tax. Sales and use tax collections in March of $193.9 million were $14.4 million, or 7.8 percent, ahead of last year.

Through the first nine months, net revenue (or an effective surplus) is $72 million ahead of forecast.


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