2020

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Arkansas Tax Revenue Surplus Near $550 Million; Year-To-Date Collections Up 7.5%

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By TALK BUSINESS & POLITICS STAFF

Tax revenue through the first nine months of Arkansas’ fiscal year is up 7.5%, and the fiscal year-to-date revenue surplus – “net available revenue” collected beyond what was estimated – totaled $549.9 million.

The Arkansas Department of Finance and Administration (DFA) reported that gross revenue for fiscal year-to-date (July 2020 to March 2021) is $5.482 billion, up 7.5% compared with the same period in 2019-2020 and up 11.3% over the budget forecast. Part of the gain includes a shift in collections when the 2020 tax due date was moved from April to July, according to the DFA report.

https://www.ualrpublicradio.org/post/arkansas-tax-revenue-surplus-near-550-million-year-date-collections-75

CREDIT KUAR NEWS

CREDIT KUAR NEWS

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The Arkansas Consumer Ranked as Top 2020 Statewide Business Story

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by Talk Business & Politics staff

The COVID-19 pandemic resulted in a significant disruption to the national and state economies, but sales tax collections clearly show the Arkansas consumer was not scared away. Most economists say that federal stimulus checks and enhanced unemployment benefits helped prop up the consumer.

Following are the top five business stories as viewed by Talk Business & Politics.

https://talkbusiness.net/2020/12/the-arkansas-consumer-ranked-as-top-2020-statewide-business-story/

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Arkansas’ Gross Tax Revenue Up Almost 12% For The Fiscal Year

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Gains in retail and vehicle sales, along with a shift in individual income tax payments, continue to show up in Arkansas tax revenue that beats estimates. For the first five fiscal months (July-November), gross revenue is up almost 12% compared with the same period in 2019.

The Arkansas Department of Finance and Administration reported Wednesday that gross revenue for fiscal year-to-date is $3.092 billion, up 11.9% compared with the same period in 2019 and up 11% over the budget forecast.

https://www.ualrpublicradio.org/post/arkansas-gross-tax-revenue-almost-12-fiscal-year

Arkansas' Gross Tax Revenue Up Almost 12% For The Fiscal Year

Gains in retail and vehicle sales, along with a shift in individual income tax payments, continue to show up in Arkansas tax revenue that beats estimates. For the first five fiscal months (July-November), gross revenue is up almost 12% compared with the same period in 2019.