State revenue still lags for year, but showed December improvement | Arkansas Blog

Wednesday, January 4, 2017

State revenue still lags for year, but showed December improvement

Posted By on Wed, Jan 4, 2017 at 9:40 AM

The state report on tax receipts in December shows money is still below the amount expected for the first six months of the year, though receipts ticked up a bit in December.

Gross revenue in December was 1.4 percent above last year and 1.2 percent above the forecast on which the state budget is based. But, for the first six months, gross revenue is 1 percent more than last year but .5 percent below the forecast.

The most favorable sign in the report was a big jump in sales tax collections in December, 8.9 percent above last year and 4.2 percent above forecast. Consumers felt good about spending at Christmas, apparently.



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