Arkansas Revenue Beats Forecast

Data coming from the state level shows net available revenue collection in the month of September totaling 690.5 million. An increase of over 98 million from this time last year and 162 million above forecast. The increase is credited to better-than-expected growth in the Arkansas’ labor market and an increase in sales-tax collection from what is being called “robust consumer activity”.

Governor Asa Hutchinson said this is the 31 consecutive month this figure has been exceeded. Affirming that our Arkansas economy continue to improve as we emerge from the COVID-19 pandemic. Hutchinson also said the surplus trend line puts the state in a good position to have another gradual reduction in the income tax rates.