State revenue staying flat | Arkansas Blog

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.




Tags:


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

  • Kurrus says he'd take control of police chief selection process

    Baker Kurrus, in the runoff with Frank Scott Jr. for Little Rock mayor, is trying to establish himself as an agent of change and he illustrated one obvious point today: When it comes to choosing a new police chief, he sees the mayor, not the city manager, as the leader of that process.
    • Nov 15, 2018
  • Asa's tax cuts heavily favor the rich

    Numbers don't lie. Check out the latest analysis by Arkansas Advocates for Children and Families on winners and losers under Gov. Asa Hutchinson's plan to cut income taxes by more than $200 million over four years, primarily by a whopping reduction of 15 percent in the top marginal tax rate, from 6.9 to 5.9 percent.
    • Nov 15, 2018
  • Thursday: The open line and video news roundup

    The news roundup leads with legislative develops. This is also the open line.
    • Nov 15, 2018
  • More »

Readers also liked…

  • Among the last words from Kenneth Williams: 'Finger Lickin' Good Fried Chicken'

    What's purported to be a final-words essay from condemned prisoner Kenneth Williams was distributed today by Deborah Robinson, a freelance journalist in Arkansas.  He reflects on his execution, his victims, reactions of inmates and big servings of fried chicken, which he says are given to all inmates on execution days.
    • Apr 27, 2017
  • The LR chamber does the public's business. Is it accountable? Blue Hog on the case.

    Matt Campbell, lawyer and Blue Hog Report blogger, has sent a Freedom of Information Act request to Jay Chessir, director of the Little Rock Regional Chamber of Commerce, and Mayor Mark Stodola related to the publicity stunt yesterday  built around withdrawing from the mayor's rash pronouncement that the city would seek an Amazon HQ2 project even though the city  didn't meet the company's criteria.
    • Oct 20, 2017
  • Presidential thriller, co-author Bill Clinton, coming to bookstores in 2018

    June 2018 is the expected publication date for a novel collaboration by former President Bill Clinton and crime writer James Patterson.
    • May 9, 2017

Slideshows

  • Arkansas vs Ole Miss at War Memorial stadium in Little Rock, Saturday, Oct. 13, 2018. After leading for much of the game, Arkansas lost 37-33 when Ole Miss scored the game winning Touchdown with less that 2 minutes left. 
  • Margaret Clark Adventure Park
    New sculptures, preschoolers play area dedicated in Riverfront Park in Little Rock.

Most Recent Comments

 

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