State tax collections beat forecast in first revenue report of new fiscal year | Arkansas Blog

Wednesday, August 2, 2017

State tax collections beat forecast in first revenue report of new fiscal year

Posted By on Wed, Aug 2, 2017 at 11:47 AM

The Arkansas Department of Finance and Administration's July revenue report released this morning shows July net available general revenue at $454.5 million. That's 2.4 percent above forecast, or a $53.8 million increase over collections for July of last year.

Sales tax was slightly below forecast (0.7 percent), but better-than-expected individual and corporate income tax collections more than made up the difference. Tobacco and soft drink taxes were down slightly.

The July report is the first of fiscal year 2018. In June, the state ended the 2017 fiscal year with a $15.7 million surplus.


Tags: , ,


Favorite

Comments

Showing 1-1 of 1

Add a comment

 
Subscribe to this thread:
Showing 1-1 of 1

Add a comment

More by Benjamin Hardy

Readers also liked…

  • Free Zinn book for Arkansas teachers

    Arkansas teachers! Get your free Howard Zinn book here! Whether Kim Hendren likes it or not.
    • Mar 3, 2017
  • Trump's strangulation of Obamacare

    If he can't kill it outright, Donald Trump will do all he can to cripple Obamacare. Vox has detailed reporting on deep cuts in federal spending that support nonprofit agencies that help people sign up for coverage under the Affordable Care Act.
    • Sep 18, 2017
  • Payday lenders on the march at legislature

    Payday lenders are working hard to get legislative cover for the reintroduction of their usurious loan business to Arkansas. Some are fighting back.
    • Mar 10, 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