State's income takes a dip in October | Arkansas Blog

Thursday, November 2, 2017

State's income takes a dip in October

Posted By on Thu, Nov 2, 2017 at 9:55 AM

The monthly state report on tax revenue indicates a drop in October, both against last year and the expected amount.

With employment high, individual income tax was the only category showing an increase. The news on income wasn't so good in corporate income taxes and sales taxes.

Gross collections of just over $500 million in October were almost $30 million below the amount collected in October 2016 and $30.9 million below forecast.

For the first four months of the state's budget yet, net revenue — the figure on which budgets are based — is 1.3 percent above collections last year but $36.2 million below forecast.



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