Arkansas Tax Revenue Up 3.7%

Taxes up

Arkansas’ tax vault is holding $151 million more in revenue than expected through the first eight months of the fiscal year thanks in large part to an improving jobs picture, according to state officials.

Year-to-date (July 2017-February 2018) gross revenue totaled $4.233 billion, up $151 million, or 3.7%, compared to the same period in the previous fiscal year.

Almost 17% of the year-to-date gain was captured with February collections, according to the recent revenue report from the Arkansas Department of Finance and Administration (DFA). February gross revenue was $457.9 million, up $25.5 million, or almost 6% compared to February 2017. Payroll tax (withholding) revenue was up almost 7% compared to February 2017.

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