State tax income rises in January | Arkansas Blog

State tax income rises in January

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The state says its tax collections in January were up 5.5 percent over the same month last year and 2.2 percent higher than a revised forecast. For the year, gross revenues are up 1 percent over forecast.

For the year to date, net revenues (the amount after certain required distributions) are $65.4 million above forecast for the first seven months of the year. This is on top of a budget that includes unobligated money for a rainy day fund. All this is building toward a push for another tax cut at the 2019 session, unless someone decides that lagging school funding, highway needs, prison needs, higher education, the financially foundering UAMS and other deprived critical public services might be due some consideration.

Here's the full report for the month. Both income tax and sales tax income are up for the year against the same period last year.





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