Arkansas Tax Revenue Up 1.4%

Fiscal year-to-date (July to October) total tax collections in Arkansas reached $2.079 billion, up 1.4% compared to the same period last year. Sales tax revenue, a sign of consumer and business spending, continues to lag with year-to-date collections 3.4% below forecast and the October tally 7.7% below forecast.

The report, issued Thursday (Nov. 2) by the Arkansas Department of Finance and Administration (DFA), showed that total year-to-date collections are 1.1% below forecast.

Sales and use tax revenue during the first four fiscal months totaled $790.3 million, up 0.3% compared to the same period in 2016, and 3.4% below forecast. Sales and use tax revenue during October was $191 million, down 3.9% compared with October 2016 and 7.7% below the budget estimate.    MORE

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