The state revenue report for June, which brings an end to the state fiscal year, shows tax revenue up barely for the year.

Gross receipts were $6.242 billion, an increase of $28.4 millioni or .5 percent above last year and a bare .2 percent above forecast. The year-end surplus of $78.7 million was 1.6 percent above the amount budgeted for distribution.

Advertisement

Some income shifting makes direct comparisons difficult, but income tax withholding — one good measure of economy — was up 2 percent for the year.

The latest trend isn’t positive. In June, gross revenue was $616.4 million, or $5.1 million less than the same month last year. Sales tax collections fell 2 percent year to year. The net available for state agencies — after mandated off-the-top reduction — was $7.9 million less than the same month last year.

Advertisement

Be a Part of the Fight

Step up and make a difference by subscribing or donating to the Arkansas Times, the progressive, alternative newspaper in Little Rock that's been fighting for truth for 50 years. Our tough, determined, and feisty journalism has earned us over 63,000 Facebook followers, 58,000 Twitter followers, 35,000 Arkansas blog followers, and 70,000 daily email blasts, all of whom value our commitment to holding the powerful accountable. But we need your help to do even more. By subscribing or donating, you'll not only have access to all of our articles, but you'll also be supporting our efforts to hire more writers and expand our coverage. Join us in the fight for truth by subscribing or donating to the Arkansas Times today.

Previous article Big, fat gay wedding reception planned in Eureka Springs Next article Study touts economic benefit of expanding alcohol sales