by Talk Business & Politics staff (staff2@talkbusiness.net)

An almost 20% gain in December sales tax revenue and an almost 12% fiscal year-to-date (July-December) gain in sales tax revenue has pushed overall Arkansas tax revenue up 1.5% over budget estimates.

Revenue in the first six months of the fiscal year was $3.896 billion, up 5.4% compared with the 2020 period, according to Tuesday’s (Jan. 4) report from the Arkansas Department of Finance and Administration (DFA).

Arkansas ended fiscal year 2021 (July 2020 – June 2021) with a revenue surplus of $945.7 million thanks in part to the COVID-19 induced shift in a tax filing deadline from June to December that pushed some of fiscal 2020 income tax payments into 2021.

https://talkbusiness.net/2022/01/arkansas-december-tax-revenue-up-almost-19/