arkansas department of finance

Arkansas Supreme Court reinstates gender-neutral ID ban

KUAR | By Josie Lenora

The Arkansas Supreme Court on Monday released a formal order in an ongoing legal battle over gender-neutral IDs.

For the past 14 years, Arkansans were allowed to put an “X” on their driver's license for their gender. This came after years of only allowing “M'' or “F.” License holders were also allowed to change their names.

In March, the Arkansas Department of Finance and Administration got legislative approval to ban the practice. This was an emergency rule change that can only be used in cases of “imminent peril.”

Arkansas Supreme Court reinstates gender-neutral ID ban

The Arkansas Supreme Court has reversed a lower court ruling which blocked the state's ban on gender-neutral IDs.

DFA hears public comment on gender-neutral ID rule

KUAR | By Josie Lenora

On Friday, officials with the Arkansas Department of Finance and Administration heard public comment on a rule change regarding driver's licenses and state IDs.

Under the gender section on their license or state ID, Arkansans were previously able to put an “X” instead of “M” or “F.” Arkansans could also change their gender marker on their license or state ID to reflect the gender with which they identify. DFA says the option was only used in about 500 cases.

In March, the department got legislative approval to stop the practice. DFA Secretary Jim Hudson told lawmakers he did not know of anyone who had been harmed by the policy. But, he said the rule change was necessary to prevent “potential harm.”

DFA hears public comment on gender-neutral ID rule

David Monteith/Little Rock Public Radio

The Arkansas Department of Finance and Administration held public comment on licenses and state IDs.

Arkansas lawmakers ban gender-neutral ID’s

KUAR | By Josie Lenora

A policy ending gender-neutral driver's licenses and state IDs in Arkansas has officially gone into effect. The Arkansas Legislative Council on Friday voted to approve the rule change put forward by the state Department of Finance and Administration.

Driver's licenses and state IDs list a person's sex. Previously, Arkansans could put an “X” in this section instead of a “M” or “F” as in male or female. The policy stops the gender-neutral option, which only 516 Arkansans have opted for. It also bars people from changing the “M” or “F” without documentation, something allowed for the past 14 years.

The approval was made along with a package of other rule changes approved by the committee. Democratic lawmakers unsuccessfully attempted to remove the policy change from the package of rules they were to vote on.

Arkansas lawmakers ban gender-neutral ID’s

Chris Hickey/Little Rock Public Radio

The policy change doing away with gender-neutral driver's licenses and IDs went into effect after the Arkansas Legislative Council adjourned Friday.

Arkansas medical marijuana sales top $211 million through September

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

The demand for medical marijuana is not abating. Arkansas’ medical marijuana sales in the first nine months of 2023 totaled $211.3 million, up 3.1% compared with the same period in 2022, according to the Arkansas Department of Finance and Administration (DFA).

With average monthly sales of $23.5 million, sales are on track to top the 2022 record of $276.3 million. According to Thursday’s (Oct. 26) DFA report, August sales totaled $23.3 million and September sales were $23.2 million. The state has collected $23.47 million in tax revenue from medical marijuana in 2023. More than $113 million in tax revenue has been collected since 2019.

“Overall, patients have spent more than $965 million on medical marijuana purchases since the industry launched in May 2019,” said DFA spokesperson Scott Hardin. “This included $31 million in 2019, $182 million in 2020, $265 million in 2021, $276 million in 2022 and $211 million through September this year.”

Arkansas medical marijuana sales top $211 million through September

Arkansas Department of Finance and Administration report shows where new residents came from

KUAR | By Ronak Patel

Using license registrations, the Arkansas Department of Finance and Administration (DFA) compiled a list to show where new residents are migrating from.

Scott Hardin, spokesperson for the DFA, said when new residents move to the state, they have to register for an Arkansas license and this information allows the department to see where residents are moving from. At the top of the list, was Texas with over 9,000 residents moving to Arkansas in 2022. Second on the list was California with slightly more than 5,000 of their residents moving to the state. Hardin said that caught the eye of the DFA.

“I don’t think you necessarily hear a lot about Californians moving to Arkansas from California. We hear a lot about Californians moving from California to Tennessee and to Austin,Texas. You hear about that but you don’t hear about Arkansas in that conversation, and I think Arkansas is becoming a piece of that conversation,” he said.

https://www.ualrpublicradio.org/local-regional-news/2023-04-20/arkansas-department-of-finance-and-administration-report-shows-where-new-residents-came-from

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For the first time, the Arkansas Department of Finance and Administration look into where new residents are migrating from. In 2022, most of the new residents came from other southern states.

Arkansas tax revenue surplus tops $250 million; collections up 8.3% in February report

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

Arkansas consumers continue to spend in the face of persistent inflation. The state’s sales tax revenue in the first eight months of the fiscal year is up 9.3%, with February sales tax revenue up 13.1%. Overall tax revenue in February was up 8.3%.

Another month, another similar growth story with Arkansas’ tax revenue. Total revenue in the February report was $807 million, up 3.2% compared to what was a healthy February 2021, and up 9.6% above the budget forecast.

In the February revenue report posted Thursday (March 2) by the Arkansas Department of Finance and Administration (DFA) reported that “collections were above forecast in all major collection categories.” It’s a phrase that has become common with the DFA revenue reports.

https://talkbusiness.net/2023/03/arkansas-tax-revenue-surplus-tops-250-million-collections-up-8-3-in-february-report/

Sales tax gains push Arkansas tax revenue up 4.4% in August report

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

Arkansas tax revenue in the first two months of the fiscal year (July-August) is $1.23 billion, up 3.5% thanks in large part to an 8.5% increase in sales and use tax collections. The year-to-date tax revenue is also 3.3% above the budget forecast.

After ending the previous fiscal year in June with a $1.62 billion surplus, the surplus after the first two fiscal months is 46 million, according to Friday’s (Sept. 2) report from the Arkansas Department of Finance and Administration (DFA).

Individual income tax revenue in the first two months was $518.5 million, up 2.3% compared to the same period in 2021, and 1% above the budget forecast. Sales and use tax revenue in the first two months was $560.5 million, up 8.5% compared with the same period in 2021 and up 6.9% above the forecast. Corporate income tax revenue was $42.1 million, down $9 million compared to the same period in 2021, and 0.5% below the forecast.

https://talkbusiness.net/2022/09/sales-tax-gains-push-arkansas-tax-revenue-up-4-4-in-august-report/

Arkansas officials estimate budget surplus to reach $1.473 billion

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

With all key tax categories showing year-over-year gains through 11 months of Arkansas’ fiscal year, state officials project a fiscal-year end budget surplus of $1.473 billion, according to Thursday’s (June 2) revenue report from the Arkansas Department of Finance and Administration (DFA).

The fiscal year-to-date revenue is $7.876 billion, up 8.5% compared with the same period in 2021 and up 0.1% above a forecast that was revised May 18.

Individual income tax revenue in the first 11 fiscal months was $3.832 billion, up 5.3% from the same period in the previous fiscal year, and 0.1% above the revised budget estimate. Sales and use tax revenue, an indicator of consumer spending, was $2.868 billion in the first 11 months, up 9.2% compared with the previous fiscal year and $1.3 million above the revised budget forecast.

https://talkbusiness.net/2022/06/arkansas-officials-estimate-budget-surplus-to-reach-1-473-billion/

Arkansas’ December tax revenue up almost 19%

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/

Arkansas Tax Surplus Hits $945 million, With Revenue 20.4% Above Forecast

by Michael Tilley (mtilley@talkbusiness.net)

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

The state’s tax revenue surplus in the previous two fiscal years totals $1.315 billion.

The Arkansas Department of Finance and Administration (DFA) reported Friday (July 2) that gross revenue for fiscal year 2021 (July 2020 to June 2021) is $8.121 billion, up 16.6% compared with the previous fiscal year and up 18.2% over the budget forecast.

https://talkbusiness.net/2021/07/arkansas-tax-surplus-hits-945-million-with-revenue-20-4-above-forecast/

Arkansas Tax Revenue Surplus More Than $700 million; Year-To-Date Collections Up 11%

By TALK BUSINESS & POLITICS STAFF

Calendar shifts with tax filing, an improving economy and federal stimulus payments helped boost April tax revenue almost 20% more than the forecast, and pushed the state’s year-to-date revenue surplus – “net available revenue” collected beyond the estimate – to $716.8 million.

The Arkansas Department of Finance and Administration (DFA) reported Tuesday that gross revenue for fiscal year-to-date (July 2020 to April 2021) is $6.43 billion, up 11.1% compared with the same period in 2019-2020 and up 12.4% 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-more-700-million-year-date-collections-11

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Private School Tax Credit Measure Clears Senate Revenue & Tax Panel

by George Jared (gjared@talkbusiness.net)

A program that would create a tax credit scholarship for impoverished students to attend private schools was passed Wednesday (April 14) during the state Senate Tax and Revenue Committee meeting.

SB 680, also known as the “Philanthropic Investment in Arkansas Kids Program Act” will be capped at $2 million and will help up to 250 students in the state each year, bill sponsor Sen. Jonathan Dismang, R-Beebe, told the committee.

For a student to qualify, their family must have an annual income that is less than or equal to 200% of the federal poverty guidelines. The credits and application process will be handled by the Arkansas Department of Finance and Administration (DF&A). Credits will be given on a first come basis. It will cost DF&A about $100,000 per year to handle the program, according to estimates. Taxpayers who donate to the program will get an off-setting tax credit.

https://talkbusiness.net/2021/04/private-school-tax-credit-measure-clears-senate-revenue-tax-panel/

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

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

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Arkansas’ Net Available Tax Revenue Surplus Tops $400 Million

By TALK BUSINESS & POLITICS STAFF

Arkansas’ tax revenue picture continues to be impressive, with gross revenue for the first seven fiscal months (July-January) up almost 10% compared with the same period in 2019-2020. January revenue was up more than 20% above forecast.

The Arkansas Department of Finance and Administration reported Tuesday that gross revenue for fiscal year-to-date is $4.419 billion, up 9.7% compared with the same period in 2019-2020 and up 12.1% over the budget forecast. Tuesday’s report also showed a fiscal year-to-date revenue surplus – “net available revenue” collected beyond what was estimated – of $421.8 million.

https://www.ualrpublicradio.org/post/arkansas-net-available-tax-revenue-surplus-tops-400-million

The Arkansas Department of Finance and Administration reports the state took in $635.8 in net available general revenues in January.CREDIT KUAR NEWS

The Arkansas Department of Finance and Administration reports the state took in $635.8 in net available general revenues in January.

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Latest Arkansas Revenue Report Shows Continued Above Forecast Growth

By SARAH KELLOGG

Arkansas’ economy continues to outperform its forecasts, according to the most recent revenue report.

The December revenue report, released Tuesday by the Department of Finance and Administration, shows the state’s net available general revenue totaled $530.3 million for December, which is 7.3% above forecast, but $17.2 million or -3.1% below last year’s amount. For the full story, click on link below:

https://www.ualrpublicradio.org/post/latest-arkansas-revenue-report-shows-continued-above-forecast-growth

The latest revenue report, totaling at $530.3 in net available general revenue for December is 7.3% above the state's forecastCREDIT STOCK PHOTO

The latest revenue report, totaling at $530.3 in net available general revenue for December is 7.3% above the state's forecast

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Franchise Taxes to Be Collected by Arkansas Department of Finance & Administration

The collection of annual franchise taxes in Arkansas has changed. Beginning Jan. 1, the Arkansas Department of Finance and Administration, headquartered in Little Rock, will accept and process franchise taxes previously administered by the Arkansas Secretary of State’s Office.

https://www.kuaf.com/post/franchise-taxes-be-collected-arkansas-department-finance-administration

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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.

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.

Arkansas Revenue So Far In Fiscal Year Up 26% Compared To Same Time Last Year

As measured by double-digit gains in sales tax revenue in the state’s August report, Arkansans continued to spend through the summer despite COVID-19 worries, with gross revenue up almost 30% to $1.331 billion during the first two months (July-August 2020) of the fiscal year.

The gross general revenue was up 29.4% compared to the same period in 2019, and up 11.2% above the budget forecast, according to Wednesday’s report from the Arkansas Department of Finance and Administration (DFA).

https://www.ualrpublicradio.org/post/arkansas-revenue-so-far-fiscal-year-26-compared-same-time-last-year

Arkansas Revenue So Far In Fiscal Year Up 26% Compared To Same Time Last Year

As measured by double-digit gains in sales tax revenue in the state's August report, Arkansans continued to spend through the summer despite COVID-19 worries, with gross revenue up almost 30% to $1.331 billion during the first two months (July-August 2020) of the fiscal year.